Latest news with #SoFi
Yahoo
3 hours ago
- Business
- Yahoo
SoFi Technologies (SOFI) Jumps as Attributable Earnings Expand 1,000%
We recently published . SoFi Technologies, Inc. (NASDAQ:SOFI) is one of the best-performing stocks on Monday. Shares of SoFi Technologies grew by 6.57 percent on Tuesday to close at $22.40 apiece following an over 1,000 percent expansion in attributable net income in the second quarter of the year. In its earnings statement, SoFi Technologies, Inc. (NASDAQ:SOFI) said net income attributable to shareholders expanded by 1,135 percent to $97.6 million from only $7.9 million in the same period last year. Revenues grew by 43 percent to $854.9 million from $598.6 million. Source: Unsplash For the six-month period, attributable net income jumped by 462 percent to $169 million from $30 million year-on-year, while revenues rose 31 percent to $1.6 billion from $1.2 billion. 'We accelerated adjusted net revenue growth to 44 percent year-over-year, the highest level in over two years, driven by record high new members, as well as new products, and an increase in fee-based revenue,' said SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Anthony Noto. Given the strong semester, SoFi Technologies, Inc. (NASDAQ:SOFI) posted confidence of exceeding its full-year revenue guidance of $3.375 billion, or a 30-percent growth year-on-year, as compared with its previous outlook of 24-27 percent. While we acknowledge the potential of SOFI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Sign in to access your portfolio
Globe and Mail
6 hours ago
- Business
- Globe and Mail
Am I Financially Ruined at 23 With $96,000 in Debt and Just a $75,000 Salary?
Key Points If you're deep in debt, you can probably still dig yourself out of it. Being very young can help your situation a lot, too. A bright financial future can lie ahead if you start making some smart moves. The $23,760 Social Security bonus most retirees completely overlook › As always, The Motley Fool cannot and does not provide personalized investing or financial advice. This information is for informational and educational purposes only and is not a substitute for professional financial advice. Always seek the guidance of a qualified financial advisor for any questions regarding your personal financial situation. If you'd like to submit your question for feedback, you can do so here. Many of us occasionally worry that we're not doing a good job of saving and investing for the future -- something that is vital to do. A 2024 survey by SoFi Technologies found that 17% of respondents have no retirement savings and about 60% have saved less than $50,000. And per a 2024 Bankrate survey, fully 57% of American workers feel behind on their retirement savings. But not everyone who's worried should be worried. Someone on Reddit, for example, asked whether she was financially ruined -- at age 23 -- because she is in debt to the tune of $96,000. Here's a look at that question. A worried young person asks... The Redditor said: Am I Cooked? I'm 23 and 96k in debt. by u/Little-Bass0600 in personalfinance To summarize, the questioner is nearly 24 years old and has just started her first job, earning a salary of $75,000. She's living at home and has no savings. Her plan is to switch into a cheaper car as soon as she can and live on a strict budget, to help her pay down her debt. Is the poster really "cooked"? The questioner wonders whether she's "cooked." Many people responded to the post, with one person explaining that the situation might be "sizzling," but she's not cooked. That's very true. Here's why: The poster is very young, with lots of time to fix her problem and improve her financial condition. By living at home, presumably with her parents, she should have a low living costs; this allows her to used much (or most) of her earnings to pay down debt. (If her parents aren't charging anything for rent or food, the questioner is especially well situated.) One issue, the $36,642 in car loans, might be addressed relatively quickly by switching from a presumably expensive vehicle to a less costly one. Getting out of debt Many, many people are deep in debt, and many have paid off much greater sums than $96,000, even while earning less than $75,000 and even while living on their own and raising a family. It's almost surprising what we can accomplish when we're determined enough. There are many ways to pay off debts. Here are a few: Use balance-transfer cards: You might move some or all of your credit card debt to a new balance-transfer credit card that offers a 0% interest rate for an introductory period (which could be a year and a half, or potentially more). Once you do so, aim to pay off that debt within the introductory period. Start paying off your highest-interest-rate debts first because that will help you save the most in interest payments. Alternatively, pay off your smallest debts first, just to get rid of them and reduce the number of debts you have. This can be satisfying psychologically. Tap your home's equity, if you own one: If you know you will be disciplined about paying off your debt and you have some home equity you can borrow against, you might do so in order to pay off higher-interest-rate debts. There are other ways to tackle debt, too -- including just calling up your credit card lender and asking for a lower rate. A little digging online can turn up additional debt-reduction strategies. What else should the poster do? As this young questioner pays off her debt, what else might she do? Well, the advice below is for her and for us older folks, as well: Aim to live below your means, spending less than you bring in. This will leave you with extra earnings that can be used for savings and investments. A side hustle can be a big help, too. Build an emergency fund, so that you can stay afloat in the event of a job loss or costly setback. Read up on how to invest. Young people are in a particularly great position when it comes to investing in the stock market because their dollars have a long time in which to grow. Open an account at a good brokerage and start investing! The original questioner is actually in a pretty good place, having recognized and spelled out her financial problems and taken steps to start solving them. In a few years' time, she will likely be debt-free and have some money saved for her future. The $23,760 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these strategies.
Yahoo
11 hours ago
- Business
- Yahoo
SoFi Technologies, Inc. Announces Pricing of Public Offering of Common Stock
SAN FRANCISCO, July 30, 2025--(BUSINESS WIRE)--SoFi Technologies, Inc. (NASDAQ: SOFI) ("SoFi" or the "Company") today announced that it has priced its previously announced underwritten public offering of 71,942,450 shares of its common stock at a price of $20.85 per share, for total gross proceeds of approximately $1.5 billion, before deducting underwriting discounts and commissions and offering expenses payable by the company. In addition, SoFi has granted the underwriters a 30-day option to purchase up to an additional 10,791,367 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on July 31, 2025, subject to customary closing conditions. All of the shares of common stock in the offering will be sold by SoFi. SoFi intends to use the net proceeds from the offering for general corporate purposes, including working capital and other business opportunities. Goldman Sachs & Co. LLC, Citigroup and Mizuho Securities USA LLC will act as the underwriters in the offering. An automatic shelf registration statement on Form S-3 (Registration No. 333-289046) (including a base prospectus) became effective upon filing with the Securities and Exchange Commission ("SEC") on July 29, 2025. The offering is being made only by means of a preliminary prospectus supplement and a final prospectus supplement (together, the "prospectus supplement") and an accompanying base prospectus. Before investing, prospective investors should read the preliminary prospectus supplement, the accompanying base prospectus and the documents incorporated by reference therein for more complete information about the Company and the offering. You may get these documents, including the prospectus supplement, for free by visiting EDGAR on the SEC website at Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, Telephone: (866) 471-2526 or via email: prospectus-ny@ Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); Mizuho c/o Mizuho Securities USA LLC at 1271 Avenue of the Americas, New York, New York 10020 (US-ECM@ Attention: Equity Capital Markets. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About SoFi SoFi Technologies (NASDAQ: SOFI) is a one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. Over 11.7 million members trust SoFi to borrow, save, spend, invest, and protect their money – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi's technology platform Galileo to build and manage innovative financial solutions across 160.0 million global accounts. ©2025 SoFi Technologies, Inc. All rights reserved. SOFI-F Forward-Looking Statements This press release includes forward-looking statements. Forward-looking statements represent SoFi's current expectations regarding future events, including the proposed offering of shares of common stock, and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements, and there can be no assurance that future developments affecting SoFi will be those that it has anticipated. Among those risks and uncertainties are market conditions and competition, including market interest rates, SoFi's ability to satisfy evolving member and technology platform client preferences or to keep pace with market trends, and risks relating to SoFi's business, including those described in periodic reports that SoFi files from time to time with the Securities and Exchange Commission. The forward-looking statements included in this press release speak only as of the date of this press release, and SoFi does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law. View source version on Contacts Investors SoFi Investor RelationsIR@ Media SoFi Media RelationsPR@
Business Wire
11 hours ago
- Business
- Business Wire
SoFi Technologies, Inc. Announces Pricing of Public Offering of Common Stock
SAN FRANCISCO--(BUSINESS WIRE)--SoFi Technologies, Inc. (NASDAQ: SOFI) ('SoFi' or the 'Company') today announced that it has priced its previously announced underwritten public offering of 71,942,450 shares of its common stock at a price of $20.85 per share, for total gross proceeds of approximately $1.5 billion, before deducting underwriting discounts and commissions and offering expenses payable by the company. In addition, SoFi has granted the underwriters a 30-day option to purchase up to an additional 10,791,367 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on July 31, 2025, subject to customary closing conditions. All of the shares of common stock in the offering will be sold by SoFi. SoFi intends to use the net proceeds from the offering for general corporate purposes, including working capital and other business opportunities. Goldman Sachs & Co. LLC, Citigroup and Mizuho Securities USA LLC will act as the underwriters in the offering. An automatic shelf registration statement on Form S-3 (Registration No. 333-289046) (including a base prospectus) became effective upon filing with the Securities and Exchange Commission ('SEC') on July 29, 2025. The offering is being made only by means of a preliminary prospectus supplement and a final prospectus supplement (together, the 'prospectus supplement') and an accompanying base prospectus. Before investing, prospective investors should read the preliminary prospectus supplement, the accompanying base prospectus and the documents incorporated by reference therein for more complete information about the Company and the offering. You may get these documents, including the prospectus supplement, for free by visiting EDGAR on the SEC website at Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, Telephone: (866) 471-2526 or via email: prospectus-ny@ Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); Mizuho c/o Mizuho Securities USA LLC at 1271 Avenue of the Americas, New York, New York 10020 (US-ECM@ Attention: Equity Capital Markets. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About SoFi SoFi Technologies (NASDAQ: SOFI) is a one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. Over 11.7 million members trust SoFi to borrow, save, spend, invest, and protect their money – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi's technology platform Galileo to build and manage innovative financial solutions across 160.0 million global accounts. ©2025 SoFi Technologies, Inc. All rights reserved. SOFI-F Forward-Looking Statements This press release includes forward-looking statements. Forward-looking statements represent SoFi's current expectations regarding future events, including the proposed offering of shares of common stock, and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements, and there can be no assurance that future developments affecting SoFi will be those that it has anticipated. Among those risks and uncertainties are market conditions and competition, including market interest rates, SoFi's ability to satisfy evolving member and technology platform client preferences or to keep pace with market trends, and risks relating to SoFi's business, including those described in periodic reports that SoFi files from time to time with the Securities and Exchange Commission. The forward-looking statements included in this press release speak only as of the date of this press release, and SoFi does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.
Globe and Mail
11 hours ago
- Business
- Globe and Mail
SoFi Technologies, Inc. Announces Pricing of Public Offering of Common Stock
SoFi Technologies, Inc. (NASDAQ: SOFI) ('SoFi' or the 'Company') today announced that it has priced its previously announced underwritten public offering of 71,942,450 shares of its common stock at a price of $20.85 per share, for total gross proceeds of approximately $1.5 billion, before deducting underwriting discounts and commissions and offering expenses payable by the company. In addition, SoFi has granted the underwriters a 30-day option to purchase up to an additional 10,791,367 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on July 31, 2025, subject to customary closing conditions. All of the shares of common stock in the offering will be sold by SoFi. SoFi intends to use the net proceeds from the offering for general corporate purposes, including working capital and other business opportunities. Goldman Sachs & Co. LLC, Citigroup and Mizuho Securities USA LLC will act as the underwriters in the offering. An automatic shelf registration statement on Form S-3 (Registration No. 333-289046) (including a base prospectus) became effective upon filing with the Securities and Exchange Commission ('SEC') on July 29, 2025. The offering is being made only by means of a preliminary prospectus supplement and a final prospectus supplement (together, the 'prospectus supplement') and an accompanying base prospectus. Before investing, prospective investors should read the preliminary prospectus supplement, the accompanying base prospectus and the documents incorporated by reference therein for more complete information about the Company and the offering. You may get these documents, including the prospectus supplement, for free by visiting EDGAR on the SEC website at Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, Telephone: (866) 471-2526 or via email: prospectus-ny@ Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); Mizuho c/o Mizuho Securities USA LLC at 1271 Avenue of the Americas, New York, New York 10020 ( US-ECM@ Attention: Equity Capital Markets. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About SoFi SoFi Technologies (NASDAQ: SOFI) is a one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. Over 11.7 million members trust SoFi to borrow, save, spend, invest, and protect their money – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi's technology platform Galileo to build and manage innovative financial solutions across 160.0 million global accounts. ©2025 SoFi Technologies, Inc. All rights reserved. SOFI-F Forward-Looking Statements This press release includes forward-looking statements. Forward-looking statements represent SoFi's current expectations regarding future events, including the proposed offering of shares of common stock, and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements, and there can be no assurance that future developments affecting SoFi will be those that it has anticipated. Among those risks and uncertainties are market conditions and competition, including market interest rates, SoFi's ability to satisfy evolving member and technology platform client preferences or to keep pace with market trends, and risks relating to SoFi's business, including those described in periodic reports that SoFi files from time to time with the Securities and Exchange Commission. The forward-looking statements included in this press release speak only as of the date of this press release, and SoFi does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.
