Summary by Moomoo AI
On January 29, 2024, SoFi Technologies, Inc. reported its financial results for the fourth quarter and full fiscal year ended December 31, 2023. The company announced a 35% year-over-year increase in GAAP net revenue to $615 million for the quarter, with adjusted net revenue also up 34% to $594 million. Adjusted EBITDA saw a significant increase of 159% to $181 million. SoFi also reported a positive GAAP net income of $48 million, or $0.02 per share, compared to a loss in the same quarter the previous year. The quarter saw nearly 585,000 new members added, bringing the total membership to over 7.5 million, a 44% increase year-over-year. Product numbers also grew by 41% to over 11.1 million. The company's CEO, Anthony Noto, highlighted the record revenue across all business segments and the...Show More