SoFi Technologies Q3 Earnings: Revenue Beat, EPS Beat, Raised Guidance Following 'Strongest Quarter' Ever

SoFi Technologies Inc (NASDAQ:SOFI) shares initially rose Tuesday on the heels of the company’s third-quarter financial results but have since reversed. Here’s a look at the key metrics from the quarter.

Q3 Earnings: SoFi reported third-quarter adjusted sales of $689.445 million, beating analyst estimates of $632.328 million, according to Benzinga Pro. The company reported third-quarter earnings of 5 cents per share, beating estimates of 4 cents per share.

Total revenue was up 30% on a year-over-year basis. Financial services revenue increased 102% year-over-year, lending segment revenue increased 14% year-over-year and technology platform revenue increased 14% year-over-year. Net interest income ...