SoFi Stock Falls Despite Q2 Earnings Beat and Raised Guidance: What Investors Need to Know

SoFi Technologies Inc. (NASDAQ: SOFI ) reported second-quarter results before the opening bell on Wednesday. Here is a rundown of the report. SoFi Technologies shares are sliding. Why are SOFI shares down? SoFi Technologies Q2 Highlights SoFi posted second-quarter adjusted earnings of 12 cents per share, beating the consensus estimate of 11 cents per share. The company generated sales of $1.206 billion, exceeding analyst expectations of $1.121 billion. This translated to a record adjusted net revenue of $1.2 billion, representing a 40% year-over-year increase. The company also achieved a record net income of $157 million for the period. Member and product growth were highlights for the quarter. SoFi added 1.1 million new members, bringing its total to a record 15.8 million, which is up 35% from the prior year. Total products grew 42% to 24.4 million. “2026 is shaping up to be a...