SoFi Technologies reported better-than-expected earnings for the second quarter of 2026, exceeding Wall Street's forecasts in several metrics. Despite the positive earnings results, the company's stock price dropped significantly due to investor disappointment regarding its conservative future guidance. SoFi highlighted achieving a milestone by adding twice as many products compared to new members for the first time.

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Earnings Results

Why SoFi’s stock drops, even after its earnings beat expectations

Investors were disappointed by the online bank’s restrained guidance

Updated July 29, 2026, 9:01 p.m. ET

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Monochromatic close-up of Anthony Noto against a bright blue background with the white SoFi logo. SoFi CEO Anthony Noto.Photo: MarketWatch photo illustration/Getty Images

SoFi Technologies delivered better-than-expected results for its latest quarter — but investors took issue with other aspects of the report, sending the company’s shares sharply lower Wednesday.

The online bank SOFI delivered what it called an “exceptional” second-quarter, beating Wall Street’s expectations for earnings per share, revenue and a few other metrics. SoFi said it added twice as many products as members for the first time.

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William Gavin

William Gavin is a tech reporter for MarketWatch. He is based in New York.

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