SoFi Technologies reported higher-than-expected Q2 earnings but saw its stock decline due to underperformance in its technology platform business.
SoFi Technologies (SOFI) posted second-quarter earnings of 12 cents per share, exceeding Wall Street estimates, while revenue also topped expectations. The fintech firm raised its full-year 2026 revenue outlook, citing strength in its lending unit.
Despite the positive results, SoFi’s stock fell as investors focused on weakness in its technology platform segment. The company had previously highlighted growth in both lending and technology divisions, but the latter’s underperformance weighed on sentiment.
Shares declined in premarket trading following the earnings release, reflecting concerns over the tech segment’s contribution to future revenue.