Why SoFi Technologies Stock Crashed 12.5% After Earnings

SoFi Technologies (NASDAQ: SOFI) stock tumbled 12.5% through 9:45 a.m. ET Tuesday despite beating on top and bottom lines in its earnings report this morning.Heading into earnings, analysts forecast the online bank would earn $0.04 per share on $632.3 million. In fact, SoFi reported a profit of $0.05 per share, and its revenue exceeded expectations, at $697.1 million. SoFi continued to post impressive growth in the third quarter, with members rising 35% year over year to 9.4 million, although revenue grew slower at 30%. CEO Anthony Noto called the company's growth trends "durable," and noted that Q3 "was the strongest quarter in our history."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool