SoFi's stock rockets as earnings blow past expectations on surging loan volumes

SoFi Technologies Inc. shares were surging in premarket trading Monday after the financial-technology company rode surging lending volumes to better-than-expected profitability for the latest quarter. The company posted fourth-quarter net income of $48 million, or 2 cents a share, whereas it generated a loss of $40 million, or 5 cents a share, in the year-prior period. Analysts tracked by FactSet expected the company to break even on a per-share basis. SoFi SOFI, -0.39% also reported adjusted earnings befor ...