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What's in Store for SoFi Technologies (SOFI) in Q2 Earnings?

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SoFi Technologies, Inc. (SOFI - Free Report) is scheduled to report second-quarter 2022 results on Aug 2, after market close.

SOFI’s surprise history has been disappointing so far. It witnessed a negative earnings surprise of 131.2% in the last four quarters (three beats and one miss), on average.

Let’s check out the expectations in detail.

SoFi Technologies, Inc. Price and EPS Surprise

SoFi Technologies, Inc. Price and EPS Surprise

SoFi Technologies, Inc. price-eps-surprise | SoFi Technologies, Inc. Quote

Q2 Expectations

The Zacks Consensus Estimate for revenues is pegged at $346 million, indicating a 49.6% rise from the year-ago quarter’s reported figure. The top line is likely to have benefited from strength in all three business segments, namely Lending, Financial Services and Technology Platform. Growth in members, products and cross-buy is likely to have acted as a tailwind.

The Zacks Consensus Estimate for the to-be-reported quarter’s loss currently stands at 12 cents per share. A loss of 14 cents per share was reported in first-quarter 2022.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for SoFi Technologies this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here.  You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.

SoFi Technologies has an Earnings ESP of -2.74% and a Zacks Rank #3.

Stocks to Consider

Here are a few stocks worth considering from the broader Zacks Business Services sector, as our model shows that these have the right combination of elements to beat on second-quarter 2022 earnings:

Lumen Technologies, Inc. (LUMN - Free Report) has an Earnings ESP of +0.58% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.

LUMN has a trailing four-quarter earnings surprise of 17.6%, on average.

TuSimple Holdings Inc. (TSP - Free Report) has an Earnings ESP of +7.18% and a Zacks Rank #3.

TuSimple has an expected earnings growth rate of 43.6% for the current year.  TSP has an expected revenue growth rate of 135.8% for the current year.

Avis Budget Group, Inc. (CAR - Free Report) has an Earnings ESP of +4.58% and is Zacks #3 Ranked.

Avis Budget has an expected earnings growth rate of 74.4% for the current year. CAR delivered a trailing four-quarter earnings surprise of 102%, on average.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.