SoFi Technologies shares gain as strong demand for loans boost earnings
Technology
SoFi Technologies shares gain as strong demand for loans boost earnings
NEW YORK (Reuters) - SoFi Technologies shares gained on Tuesday after the financial technology firm reported better-than-expected quarterly results buoyed by strong demand for its loan products as well as retail trading business.
SoFi's net revenue rose 33% to $771 million in the quarter ended in March, while adjusted earnings per share tripled to 6 cents from 2 cents a year earlier.
SoFi's shares rose to as high as $14.50 following the results, up nearly 10%. It was last up 6% to $13.94.
