Here's Why SoFi Spiked After Earnings -- And What to Watch Now

By Matt Frankel – Updated Aug 5, 2022 at 9:48AM

Key Points

SoFi reported second quarter results that were far better than analysts had been expecting.
The stock soared by nearly 30% after the results were announced.
Here's what investors should know, and what to watch going forward.
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NASDAQ: SOFI

SoFi Technologies

Market Cap

$8B

Today's Change

(-0.28%) -$0.02

Current Price

$7.11

Price as of April 19, 2024, 4:00 p.m. ET

SoFi soared after earnings, and for good reason. Here's a breakdown of the numbers.

Banking disruptor SoFi (SOFI -0.28%) reported its second-quarter results, and to say that the market was happy would be an understatement. In this video, financial sector expert Matt Frankel, CFP, discusses the results and what investors should watch going forward.

*Stock prices used were the midday prices of Aug. 3, 2022. The video was published on Aug. 3, 2022.

Matthew Frankel, CFP® has positions in SoFi Technologies, Inc. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Matthew is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, s/he will earn some extra money that supports his/her channel. His/Her opinions remain his/her own and are unaffected by The Motley Fool.