Chime lifts 2025 revenue outlook as more customers turn to digital banks

Core Insights - Chime raised its full-year revenue forecast to between $2.163 billion and $2.173 billion, exceeding Wall Street estimates, driven by growing demand for its digital banking services [2] - The company reported a 29% increase in revenue to $544 million for the three months ending September 30, compared to the previous year [4] - Active members grew by 21% to 9.1 million, with purchase volume increasing by 15% year-over-year to $32.3 billion in the third quarter [3] Financial Performance - Chime's revenue forecast for the current quarter is between $572 million and $582 million, surpassing Wall Street expectations of $569.6 million [5] - The company announced a $200 million share repurchase program [5] Market Position - Chime's CFO stated that the company is delivering more value to mainstream Americans compared to traditional banks, emphasizing its competitive position in the fintech landscape [2] - The banking model focuses on payments, catering to Americans with limited credit histories who rely more on debit spending [4]