SoFi Technologies posted record adjusted net revenue of $1.4 billion in the third quarter of 2026, up 44% year over year, and GAAP net income of $241 million. Growth came from banking, lending, investing and fintech services rather than AI chips or models. The company is building a connected financial platform: members rose 35% to 17.1 million, products held grew 44% to 26.7 million, and more than half of new products opened in the quarter came from existing members. SoFi also has eight businesses each generating over $100 million in annualized revenue, and net profit rose 73%. The article says investors should watch whether SoFi can keep growing, turn that growth into lasting profits, and whether newer businesses such as recently announced blockchain payments contribute meaningfully.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related news
- Tech Selloff Deepens as Bank Earnings Fuel Stock Market Rotation
The stock market is reacting to big bank earnings. Elon Musk has warned Micron about Chinese memory chips.
- ASML is the Most Important Company in the AI Ecosystem, and It Just Delivered Record Results. Here's Where the Stock Will Be in 2028
ASML reported record third-quarter 2026 revenue of 11.7 billion euros, up 56% from a year earlier, with gross margin rising to 57.5% and earnings per share up 136% to 12.95 euros, and it raised full-year guidance. CEO Christophe Fouquet said customers do not expect supply to catch up with demand until 2028, even with plans to increase supply by 30% in 2027 and 2028. For the current quarter, guidance is 14.7 billion euros in revenue, a 51% rise, with a 57% gross margin. The article says the stock trades at 29 times forward earnings versus 20 for the S&P 500, with consensus expecting 67% earnings growth in 2026 against 32% for the index. Its scenario assumes 45% annual earnings growth in 2027 and 2028 and an unchanged 29x multiple, which would imply a price of $2,827 in 2028, or 72% upside.
- ASML is the Most Important Company in the AI Ecosystem , and It Just Delivered Record Results . Here Where the Stock Will Be in 2028
ASML reported record third-quarter results on October 14 and raised its full-year guidance. Revenue reached 11.7 billion euros, up 56% year over year, with gross margin rising to 57.5% and earnings per share jumping 136% to 12.95 euros. CEO Christophe Fouquet said supply is not expected to catch up with demand until at least 2028, and guidance calls for 14.7 billion euros in revenue next quarter, up 51%. The stock trades at 29 times forward earnings, a premium to the S&P 500's 20, which the author says is justified by expected growth. Assuming 45% annual earnings growth in 2027 and 2028, the author projects EPS of 97.49 USD and a stock price of 2,827 USD by 2028, implying 72% upside.
- ASML is the Most Important Company in the AI Ecosystem , and It Just Delivered Record Results . Here Where the Stock Will Be in 2028
ASML reported record third-quarter results on Oct. 14, with revenue of €11.7 billion, up 56% year over year, a gross margin of 57.5%, and earnings per share up 136% to €12.95, and it raised its full-year guidance. The company expects €14.7 billion in revenue for the current quarter at the midpoint of its range. CEO Christophe Fouquet said customers don't expect supply to catch up with demand until at least 2028, while ASML aims to raise supply by 30% in both 2027 and 2028. The article argues that concerns about AI infrastructure spending may be overblown and, assuming 45% annual earnings growth, suggests the stock could rise about 72%, though it trades at 29 times forward earnings.
- Eli Lilly Just Delivered Another Blowout Quarter. Is This Unstoppable Growth Stock Still a Buy?
Eli Lilly reported third-quarter revenue up 39% year over year to $24.4 billion, driven mainly by GLP-1 drugs: Mounjaro rose 65% to $10.7 billion and Zepbound rose 49% to $5.4 billion. Non-GAAP earnings per share were $7.48, up 7%, held back by acquisition-related expenses, but both revenue and earnings beat analyst estimates. The company raised its full-year 2026 revenue guidance to $91 billion to $92 billion from $85 billion to $87 billion, and its shares jumped after the report. The article argues the GLP-1 market still has room to expand given low penetration, and views Lilly's pipeline, including retatrutide, as among the strongest in the field, while noting pricing pressure and competition from new medicines over the medium term.
- Anthropic Reportedly Posted Quarterly Revenue Growth of 50% and Was Cash-Flow Positive. Here's Why It Might Not Be Enough to Impress Investors Before the Company's Massive IPO
Anthropic reportedly told investors at a private day that its revenue reached $16.8 billion for the three months ended Sept. 30, up 50% quarter over quarter, and that it was cash-flow positive and adjusted-profitable. That growth is slower than the 140% gain seen between the first and second quarters, and Jefferies had reportedly expected an annual revenue run rate of at least $80 billion. The company has delayed its IPO registration statement twice amid AI safety concerns and very heavy infrastructure spending. A Saxo Markets strategist says a valuation above $2 trillion would be about 30 times annualized Q3 revenue, making valuation the main debate. The article argues investors are now asking tougher questions about funding, cost of capital and returns, so these results may not impress them much.
Related markets
Latest news
- AMD to report Q3 results following disappointing showing from Intel
AMD will report third-quarter results after the bell on Tuesday, as Wall Street looks for signs of AI chip demand after a sharp AI-trade sell-off and a disappointing Q4 outlook from Intel (INTC) last week. Intel guided Q4 revenue to $15 billion to $16 billion, well below the $17 billion analysts expected, sending its stock down nearly 29%; the company blamed a steeper-than-expected decline in the PC market. Analysts expect AMD to earn $1.97 per share on $13 billion in revenue, versus $1.20 and $9.2 billion a year earlier. Data Center sales are forecast at $8.19 billion, up 88% from $4.34 billion, while the gaming business could fall 49% to $655 million as higher memory and storage prices weigh on demand. Client revenue, which includes PC sales, is projected at more than $3.06 billion, up 11% year over year but flat sequentially.
- Why Musk's telecom play is no 'Hail Mary' fix
Two speakers discuss Elon Musk's push into telecoms over the past few months. One says the move may lift the stock briefly but is not a Hail Mary that will turn the business around, since telecom is heavily scrutinized for antitrust and not very lucrative; this speaker also doubts Musk's statements that funding is secured and wants to know what he is worried about in ongoing investigations. The other speaker views SpaceX's entry into telecoms positively, as a sign of diversification beyond AI and space, while the first asks when that could become an issue.
- Why Lumentum Stock Fell 14.9% Today
Lumentum shares fell 14.9% intraday despite a strong first-quarter report, with revenue more than doubling 136.5% to $1.26 billion and adjusted EPS of $4.57. The company agreed to be acquired by Marvell Technology in an all-stock deal of 4.5 Marvell shares for each Lumentum share, with closing expected in the first half of calendar 2028. The deal was valued at $115 billion, or about $1,132 per Lumentum share, based on October 28 prices; at Monday's midday prices the offer was worth about $800 per share after Marvell fell 9.5%. Lumentum traded 10.6% below that implied value, and the two stocks together erased nearly $28 billion in market value on Monday. The companies expect more than $1 billion in annual cost savings.
- North Korea Is Laundering Binance Hack Loot at One New Wallet Every 25 Seconds
According to Elliptic, North Korean hackers spread the $6.43 billion stolen from Binance across about 12,000 wallets on 11 blockchains in under four days, with more than 40,000 transactions. Thanks to fast freezes by Tether and Circle, about 44% of the funds, or $2.85 billion, has been frozen or seized, compared with roughly 3% after the $1.5 billion Bybit hack in February 2025, though about $786 million in stablecoins still got away. About $3.24 billion remains in linked addresses, and Elliptic expects the funds to be cashed out over months through over-the-counter brokers. The FBI has attributed the attack to TraderTraitor, a North Korean state-linked hacking group.
- Is Apple the right anti-AI stock for investors to 'hide' in?
Commentators say Apple is priced near perfection, so even strong results may not meet expectations. Investors are said to be hiding in Apple as an 'anti-AI' stock because it has not spent heavily on AI buildout, while stocks that have spent heavily have been flat this year. One speaker calls Apple expensive but says its stability earns a premium, likening its ecosystem to a utility, and notes early reviews or figures on the foldable phone are mixed. Another says he would not sell even if the stock falls, but adds that if Apple disappoints, it is unclear where investors would go.
- Many bank stocks are as cheap as leafy greens despite trillions of dong in quarterly profits
At the November 2 close, 14 of 28 listed bank stocks tracked traded below 15,000 dong, with PCB, VAB and PGB under their 10,000-dong par value. The low prices persist even as many banks report strong results, such as BVBank's nine-month pre-tax profit of over 825 billion dong, up 90%. The main cause is the long-running practice of paying dividends in shares and issuing large bonus shares, which raised the outstanding share count of 27 banks from about 40.7 billion to 108.9 billion over nearly six years, with reference prices adjusted down accordingly. If profit grows slower than the share count, earnings per share (EPS) can fall, and Techcombank's reference price was adjusted from 33,500 dong to about 21,500 dong after a 50% stock dividend. Another factor is the broader downtrend in the stock market.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.