SoFi Technologies reported third-quarter revenue of $1.38 billion, up 44% year over year, and per-share profit rose 64% from $0.11 to $0.18. The bank added a record 1.2 million customers during the three months ending in September, bringing its total to more than 17 million. Even so, SOFI shares are still down 33% year to date and more than 40% below last October's peak. The article attributes the selloff to investors taking profits, along with concerns such as the loss of a third-party platform client that cut that business's revenue by 27% in the first quarter and a March short-seller report questioning the balance sheet. SoFi raised its 2026 earnings outlook from $0.60 to $0.61 per share, and the article argues the earlier concerns did not turn out to be as serious as they seemed.
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