Here's Why SoFi Stock Jumped 12% Last Month

Core Insights - SoFi Technologies reported strong third-quarter results, exceeding Wall Street's expectations, which led to a rise in its stock price by 12.3% in October [1][2][4] - The company raised its annual profit forecast following a record quarter, with adjusted earnings per share of $0.11 surpassing the consensus estimate of $0.08 [4][6] Financial Performance - SoFi's revenue increased by 38% to a record $962 million, significantly above the expected $904 million [4] - The membership base expanded by 35% to 12.6 million, contributing to a 57% surge in loan originations, totaling $9.9 billion [5][9] Management Outlook - Management raised the earnings guidance for the year to $0.37 per share from a previous estimate of $0.31, reflecting confidence in continued growth [6][9] - The positive results and management's optimism indicate a strong demand for SoFi's expanding range of financial services [6] Market Context - SoFi's growth is notable amid economic uncertainties, such as concerns over tariffs and slowing job growth, with job openings in October at their lowest in over four years [7][8] - The company's diverse financial services pipeline, including credit cards, loans, and investment tools, positions it well to meet demand regardless of economic conditions [8]