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SOFI’s surprise history has been impressing so far. It witnessed an earnings surprise of 4.1% in the last four quarters (two beats and two meets), on average.
Let’s check out the expectations in detail.
Q4 Expectations
The Zacks Consensus Estimate for revenues is pegged at $425.7 million, indicating a 49.1% 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 growth in both interest income and non-interest income), Financial Services (owing to strength in SoFi Credit Card, SoFi Invest and Lending as a Service) and Technology Platform (due to strong Galileo & Technisys 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 is currently pegged at 9 cents per share. A loss of 9 cents per share was also reported in the year-ago quarter.
Our proven model does not 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. 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 has an Earnings ESP of -8.11% and a Zacks Rank #4 (Sell).
Stocks to Consider
Here are a few 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 has an expected earnings growth rate of 9% for the current year 2023. TT has a trailing four-quarter earnings surprise of 3.4%, on average.
Riot Blockchain (RIOT - Free Report) has an Earnings ESP of +16.67% and is Zacks #3 Ranked.
Riot has an expected revenue growth rate of 49% for the current year 2023.
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SoFi Technologies (SOFI) to Report Q4 Earnings: What Awaits?
SoFi Technologies, Inc. (SOFI - Free Report) is scheduled to report fourth-quarter 2022 results on Jan 30, before market open.
SOFI’s surprise history has been impressing so far. It witnessed an earnings surprise of 4.1% in the last four quarters (two beats and two meets), on average.
Let’s check out the expectations in detail.
Q4 Expectations
The Zacks Consensus Estimate for revenues is pegged at $425.7 million, indicating a 49.1% 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 growth in both interest income and non-interest income), Financial Services (owing to strength in SoFi Credit Card, SoFi Invest and Lending as a Service) and Technology Platform (due to strong Galileo & Technisys 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 is currently pegged at 9 cents per share. A loss of 9 cents per share was also reported in the year-ago quarter.
SoFi Technologies, Inc. Price and EPS Surprise
SoFi Technologies, Inc. price-eps-surprise | SoFi Technologies, Inc. Quote
What Our Model Says
Our proven model does not 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. 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 has an Earnings ESP of -8.11% and a Zacks Rank #4 (Sell).
Stocks to Consider
Here are a few 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 +0.15% and a Zacks Rank of 3. You can see the complete list of today's Zacks #1 Rank stocks here.
Trane Technologies has an expected earnings growth rate of 9% for the current year 2023. TT has a trailing four-quarter earnings surprise of 3.4%, on average.
Riot Blockchain (RIOT - Free Report) has an Earnings ESP of +16.67% and is Zacks #3 Ranked.
Riot has an expected revenue growth rate of 49% for the current year 2023.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.