U.S. Stocks Volatile: SoFi Plummeted on October 23 as Q3 Turned to Loss, Full-Year Guidance Lowered, and Net Write-Offs Increased

SoFi Technologies October 23 Sharp Decline Interpreted

Keywords: Q3 turning to loss, full-year guidance lowered, net charge-offs rising

1. After the market closed on October 22, the company announced a GAAP loss per share of $0.19 for the third quarter, compared to earnings per share of $0.63 in the same period last year. Revenue was $375.5 million, which was below market expectations. The results shifted from profit to loss.

2. On October 22, the company lowered its full-year 2026 earnings per share guidance to $1.95—2.05, previously $3.10—3.20. The company cited capital market volatility and higher interest rates for not executing the originally planned full loan sale. At the same time, net charge-off guidance was raised.

3. On October 23, several investment banks lowered their target prices after the results: Morgan Stanley from $30 to $26, Barclays from $26 to $22, Deutsche Bank from $32 to $30, and RBC from $28 to $26.

(Disclaimer: This content is generated by AI technology based on publicly available information and is for reference only. It does not constitute investment advice.)