SoFi Technologies Stock Jumps 16% After Reporting First Profit

SoFi Technologies’ (NASDAQ:SOFI) stock surged 16% on Monday after it reported its fourth-quarter earnings, exceeding expectations and demonstrating growth across its business lines. The fintech firm’s strong performance was driven by accelerating revenue growth and expanding margins.For the fourth quarter of 2023, SoFi reported a significant increase in both GAAP net revenue and adjusted net revenue compared to the prior-year period. Total GAAP net revenue reached $615 million, up 35% year over year, beatin ...