Why SoFi Stock Skyrocketed Today

Shares of SoFi Technologies (SOFI 20.21%) rallied 20.2% Monday after the banking and financial technology (fintech) stock handily beat expectations with its fourth-quarter 2023 report.SoFi delivers its first-ever GAAP profitSoFi's Q4 adjusted (non-GAAP) revenue grew 35% year over year, to $594 million, translating to adjusted earnings of $0.04 per share. SoFi also achieved its first-ever quarter with positive consolidated generally accepted accounting principles (GAAP) net income of $48 million or $0.02 per ...