"SoFi Technologies (NASDAQ: SOFI) raised its full-year profit forecast on Tuesday after reporting record third-quarter results that beat Wall Street expectations, driven by fee revenue and more user growth across its financial products. CEO Anthony Noto said the company remains on track to launch crypto trading by the end of the year, with plans to roll out its own SoFi USD stablecoin in the first half of 2026 - marking its biggest step yet into the digital asset economy."
"SoFi said adjusted revenue climbed 38% year-over-year to $950 million, surpassing analyst estimates of $886.6 million. This move echoes that of banking giant Morgan Stanley. Earlier this quarter, Morgan Stanley announced plans for crypto trading for retail clients on its E*Trade platform, partnering with Zerohash for liquidity, custody, and settlement. Adjusted profit for SoFi more than doubled to $0.11 per share in the three months ended September 30, topping expectations of $0.08 per share."
SoFi reported record third-quarter results with adjusted revenue up 38% year-over-year to $950 million and adjusted EPS more than doubling to $0.11 per share. The company raised its full-year profit forecast and saw shares rise about 3.8% in pre-market trading. SoFi reinstated spot crypto trading and plans to launch crypto trading by year-end, plus to issue a SoFi USD stablecoin in the first half of 2026. The firm also announced a self-serve international money transfer feature and continues to expand products across investing, credit cards, and high-yield savings, producing a market capitalization near $36 billion.
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