SoFi blew past Wall Street's expectations in the second quarter, raising its hopes for the rest of 2025 and beyond.
From April through June 2025, earnings per share of the San Francisco-based fintech reached 8 cents, beating analysts' consensus estimate of 6 cents, according to S&P. The new EPS also marked a 700% leap from the same period last year, when it was only a penny.
Net income beat estimates as well, rising to $97.26 million — soaring 459% year-over-year, and exceeding estimates of $68.32 million, per S&P. (SoFi's earnings have been steadily rising since 2021, when its net income was negative.)
"We had an excellent second quarter, as we continue to drive durable growth and strong returns through our relentless focus on product innovation and brand building," said SoFi CEO Anthony Noto during a call with analysts on Tuesday. "Our one-stop shop strategy is stronger than ever."
Total revenue for the quarter reached $854.94 million, up 43% from last year and above estimates of $804.36 million.
One major contributor was fee-based revenue, which rose 72% year-over-year to reach $377.5 million in the second quarter. Driving up that fee income were loan originations, which totalled $8.76 billion — a new quarterly record for SoFi.
Andrew Jeffrey, an analyst at William Blair, said he was "bullish" on SoFi after the earnings announcement.
"We think these revenue streams are durable, supported by robust deposit and origination volume," Jeffrey wrote in a research note.
Encouraged by these results, the $41.1 billion-asset company raised its guidance for the rest of the year. SoFi now expects its total net income for 2025 to reach about $370 million, above its previous guidance of $320 to $330 million. By the end of the year, it expects earnings per share to be approximately 31 cents, an uptick from its previous prediction of 27 to 28 cents.
And beyond 2025, SoFi sees a bright future ahead, particularly thanks to loosening regulation of the cryptocurrency market.
"Despite the significant growth we have achieved to date, we are just getting started," Noto said. "The existing opportunity in front of us is massive, and the opportunity is growing through our own innovations to expand our adjustable markets and by rapidly advancing technology."
SoFi, originally called "Social Finance," was founded as a private student loan refinancer in 2011. Since then, the company has expanded its purview to include digital banking, mortgages, auto loans, insurance and other products.
Now added to that list is digital assets. In June, SoFi announced that it would be
"Both self-serve international money transfers and crypto investing are expected to launch later this year, with more innovations to come," Noto said on Tuesday.
Read more on crypto in banking:
SoFi first ventured into crypto in 2019, when it allowed customers to trade digital currencies through its SoFi Invest platform. But under pressure from regulators, particularly after the collapse of the FTX crypto exchange, SoFi dismantled its crypto services in 2023.
Since then, the regulatory environment has changed significantly. In January 2025, President Trump returned to office on a fiercely pro-crypto platform, and on July 18 he signed the
Amid that friendlier political climate, SoFi believes now is the perfect time to dive back into the market.
"The cost, speed and security of paying, buying and spending are worse today than they will ever be in the future," Noto said. "Faster, safer and cheaper options will only get better and better every year. Over time, we see opportunities across our entire platform."
Those opportunities include stablecoins, Noto said, but also new payments options, blockchain infrastructure and giving customers the ability to borrow against their crypto assets.
In his note, Jeffrey expressed confidence that SoFi would grow in those areas.
"It is our opinion that the Street is only now beginning to appreciate the extent and speed of SoFi's disruptive digital banking offerings," he wrote.
