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Financial services company SoFi beats expectations in its latest earnings report, showcasing strong performance both on top and bottom lines. Despite the positive results, the market reaction is mixed with some expressing disappointment. SoFi's balance sheet includes over $10 billion in loans, yet no delinquency metrics were reported, leading to scrutiny and questions about its transparency and focus on 'tech revenue.'
POV: @ramahluwalia reading $SOFI earnings report for Delinquency Metrics https://t.co/gfywXpWq2B https://t.co/RicB6h3XGW
Market not impressed with $SOFI results, despite higher for longer tailwinds... https://t.co/pRAXsq0X5u
How is it that $SOFI, whose balance sheet consists of $10 Bn+ in loans, did not report a single delinquency metric on its PR? Other lenders report a rise in DQ rates headed back 2008 levels SoFi is distracting by talking about 'tech revenue' which is immaterial and has no banks