(RTTNews) - Shares of financial services firm, SoFi Technologies, Inc. (SOFI) are surging more than 20% Monday morning after reporting upbeat quarterly results above the Street view.
The company reported a profit of $24.62 million or $0.02 per share for the fourth quarter, compared with a loss of $50.2 million or $0.05 per share a year ago. Analysts on average, polled by Thomson-Reuters expected the company to report breakeven per share.
Revenue for the quarter grew 35% to $615.4 million from $456.68 million a year ago. The consensus estimate was for $571.7 million.
Net interest income increased 87% year-on-year to $389.64 million.
SOFI, currently at $9.19, has traded in the range of $4.45 - $11.70 in the last 1 year.
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