So you have to separate out the two things, right? There's the health of the consumer and then there's what's good for SoFi. So that means a lower cost of funding for their loans. In the statement, he did say there was a growth in high quality deposits. Well, it's also about what kinds of loans, right? And which of the loans that are more tend to be more profitable for them. The inflation's taking bites out of your paycheck and you need these personal loans, but I'm going to put all those questions to him. It's unclear to me if that is a sign of consumer stress where you just need more money. Also personal loan originations up 50% year-over-year. So I'm very interested to ask Anthony, CEO of SoFi, more about that when we talk to him in the next hour. At the high end, SoFi's is modeling for it to almost double year-over-year, despite economic volatility.īut in the quarter, they had lower student loan volume and lower home loan origination. And there weren't- this wasn't a perfect quarter, but to Julie's point, the stock is moving I think off that very upbeat optimistic full year outlook for adjusted operating profits. Just a larger question of going forward from here, how much of that refinancing still may be part of the SoFi story, at least on a year-over-year comparable basis too. This is kind of a big year that people were just looking across any policy that may come about where they had to refinance student loans, and SoFi was a core kind of element of that conversation. I think in this environment for the number of consumers that they're going to be looking to add on to their services. SoFi in some of the quarterly new member ads that they had. The shares are surging by 12%, not just because of all of that, but also because its full year forecast for EBITDA came in ahead of estimates here. That was an addition of almost 480,000 in the quarter. SoFi is one of the companies that reported this morning, and the company topping earnings expectations for the fourth quarter. So let's get back to some more earnings movers. Yahoo Finance Live anchors discuss quarterly earnings for SoFi.
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