This fintech company exceeded expectations and raised its revenue forecast, causing SoFi's stock price to surge.

Reuters, October 27 - In pre-market trading on Tuesday, SoFi Technologies (SOFI.O) shares rose 9% after the fintech company raised its full-year revenue forecast and posted third-quarter results that exceeded Wall Street expectations, driven by strong demand.

Despite pressures from rising borrowing costs and living expenses, customer resilience has helped credit demand remain steady, allowing companies to expand lending and increase interest income.

Details are as follows:

• According to estimates from London Stock Exchange Group (LSEG), SoFi’s adjusted net revenue for the third quarter soared 44% to a record $1.4 billion, surpassing the expected $1.25 billion

• Its member count in the quarter rose 35% to a record 17.1 million

• The fintech company now expects full-year revenue to reach $5.04 billion, far above Wall Street's forecast of $4.87 billion

• “No matter the environment, our third-quarter results were extraordinary, but given the broader outlook for 2026, this performance is particularly notable,” CEO Anthony Noto said in a statement

• Fintech companies like SoFi are challenging traditional banks by expanding their product lines and leveraging 'digital-first' platforms to attract and retain customers

• SoFi said it expects total membership to grow by at least 30% year-over-year

• Its quarterly adjusted profit of 18 cents per share also exceeded the 16-cent forecast

• The company, valued at about $18.7 billion, said it expects revenue to grow by around 27% in 2027

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