We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SOFI’s surprise history has been impressing so far. It witnessed an earnings surprise of 15.2% in the last four quarters (two beats and two meets), on average.
Let’s check out the expectations in detail.
Q3 Expectations
The Zacks Consensus Estimate for revenues is pegged at $391 million, indicating a 41% 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 (led by a continued outperformance in the personal loans business as well as a strong sales execution), Financial Services (owing to strength in SoFi Credit Card, SoFi Invest and Lending as a Service) and Technology Platform (due to strong Galileo revenues). 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 10 cents per share. A loss of 5 cents per share was reported in the year-ago quarter.
What Our Model Says
Our proven model predicts 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. This is exactly the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Here are a few other stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this season:
Trane Technologies plc (TT - Free Report) has an Earnings ESP of +2.09% and a Zacks Rank of 3.
Trane Technologies has an expected earnings growth rate of 16.3% for the current year. TT has a trailing four-quarter earnings surprise of 3.9%, on average.
Riot Blockchain (RIOT - Free Report) has an Earnings ESP of +129.17% and is Zacks #3 Ranked.
Riot has an expected revenue growth rate of 41.2% for the current year and 69.1% for next year.
Image: Bigstock
What's in Store for SoFi Technologies (SOFI) in Q3 Earnings?
SoFi Technologies, Inc. (SOFI - Free Report) is scheduled to report third-quarter 2022 results on Nov 1, before market open.
SOFI’s surprise history has been impressing so far. It witnessed an earnings surprise of 15.2% in the last four quarters (two beats and two meets), on average.
Let’s check out the expectations in detail.
Q3 Expectations
The Zacks Consensus Estimate for revenues is pegged at $391 million, indicating a 41% 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 (led by a continued outperformance in the personal loans business as well as a strong sales execution), Financial Services (owing to strength in SoFi Credit Card, SoFi Invest and Lending as a Service) and Technology Platform (due to strong Galileo revenues). 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 10 cents per share. A loss of 5 cents per share was reported in the year-ago quarter.
What Our Model Says
Our proven model predicts 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. This is exactly 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 +11.27% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are a few other stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this season:
Trane Technologies plc (TT - Free Report) has an Earnings ESP of +2.09% and a Zacks Rank of 3.
Trane Technologies has an expected earnings growth rate of 16.3% for the current year. TT has a trailing four-quarter earnings surprise of 3.9%, on average.
Riot Blockchain (RIOT - Free Report) has an Earnings ESP of +129.17% and is Zacks #3 Ranked.
Riot has an expected revenue growth rate of 41.2% for the current year and 69.1% for next year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.