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SoFi Surges on Record Q3 Earnings - 6 Details Every Investor Should Weigh

SoFi shares are up 13.42% in Tuesday afternoon trading after record third-quarter revenue, stronger lending, and raised guidance.

By Damilola Esebame, CFEI® , Edited by Laura Hohenstein

Updated Oct. 27, 2026

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SoFi Technologies (NASDAQ: SOFI) shares traded near $16.40 in Tuesday afternoon trading, up $1.94, or 13.42%, from a previous close of $14.46.

The stock opened at $15.17, touched a high of $16.77, and stayed above a low of $15.17 after the fintech company, whose platform centers on financial fitness through integrated banking, lending, and investing services, reported record third-quarter results and raised guidance. The report covered the third quarter ended Sept. 30, 2026.

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Set up an eligible direct deposit with SoFi Checking and Savings and you could earn a bonus of $50 or $400.¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 9/23/26. Fees may reduce earnings. Additional information can be found at <a href="https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SoFi-Bank-Rate-Sheet-September-23-2026.pdf">http://www.sofi.com/legal/banking-rate-sheet</a>. Make the switch, set up eligible direct deposit, earn the bonus. It basically takes no extra work at all other than following these steps.

Why people are switching: This account earns up to an insane 4.40% APY² Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/27. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#4">sofi.com/banking#4</a>. SoFi Bank, N.A. Member FDIC. on savings for up to six months on new accounts (3.30% APY standard + 1.10% APY boost; terms apply) on top of that $50 or $400 bonus.¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 9/23/26. Fees may reduce earnings. Additional information can be found at <a href="https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SoFi-Bank-Rate-Sheet-September-23-2026.pdf">http://www.sofi.com/legal/banking-rate-sheet</a>. That's way better than the measly 0.38% APY (as of 10/19/26)³ Based on <a href="https://www.fdic.gov/national-rates-and-rate-caps">this</a> FDIC data, as of 6/15/26. national average savings accounts offer.

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Big earnings beat

SoFi reported adjusted net revenue of about $1.4 billion, up 44% from a year earlier. Adjusted EBITDA rose 70% to $469.8 million, and adjusted earnings were $0.18 a share, above consensus estimates of $0.17. Net income rose 73% to $241 million.

Adjusted EBITDA strips out interest, taxes, depreciation, amortization, and some other items to show operating profit on an adjusted basis.

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Guidance moved higher

SoFi raised its 2026 outlook to about $5.04 billion in adjusted net revenue and $1.66 billion in adjusted EBITDA. The company also lifted its annual EPS forecast to $0.61 from $0.60. Management introduced a 2027 outlook calling for about $6.4 billion in adjusted net revenue, $2.24 billion in adjusted EBITDA, and EPS of $0.90.

Lending drove the quarter

Adjusted net revenue from the lending business was $807.4 million, up 68% from a year earlier and up from $711.7 million in the second quarter. Total loan originations rose 71% from a year ago to a record $16.9 billion. Personal loan originations rose 69% to $12.6 billion, student loan originations rose 96% to $2.9 billion, and home loan originations increased 44% to $1.36 billion.

Members and products grew

SoFi ended the quarter with a record 17.1 million members, up 35% from a year earlier. Product growth rose 44% to a record 26.7 million products. Existing members opened 51% of new products in the quarter, a sign that cross-selling remained part of the growth story.

Non-lending units mixed

SoFi's financial services business posted $525.1 million in revenue, up 25% from a year earlier. The unit includes products such as banking, investing, and credit cards. Its technology platform business fell 24% to $87.4 million, reflecting the impact of a large client that fully transitioned off the platform before the end of 2025.

The mix mattered because investors have been watching how much growth comes from lending compared with fee-based and software revenue.

Analysts stayed split

Monness, Crespi, and Hardt initiated coverage one day before earnings with a Buy rating and a $20.00 target. KBW took the other side, reiterating a Sell rating and cutting its target to $15.00 while citing higher interest rates and concerns about fair-value accounting. Fair-value accounting is a method that marks certain assets at current estimated market values rather than at their original cost.

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Bottom line

The earnings report shifted attention from SoFi's recent pressure to whether the company can sustain loan growth, member gains, and profitability through the end of 2026. Those metrics carry particular weight for a platform that millions of users rely on to start investing, making the next few quarters a test of both Wall Street confidence and product-level trust.

The stock's move also put guidance and credit quality back at the center of the debate as investors assessed the balance between lending growth and diversification.

This article is for informational purposes only and should not be considered investment advice.

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