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Lending Platform SoFi's Revenue Jumps 56% in Q3
The company's Nasdaq-listed shares rose 13% in premarket trading.
Nasdaq-listed SoFi (SOFI), an online lending platform, said Tuesday that its third-quarter revenue rose 56% from the year-earlier quarter to $424 million.
The platform, which has a digital-asset trading subsidiary, also said in a filing with the U.S. Securities and Exchange Commission that its earnings before interest, taxes, depreciation and amortization (Ebitda) surged to $44.3 million in the quarter, more than quadruple the $10.3 million from a year earlier.
STORY CONTINUES BELOW
Membership rose 1.8 million from a year ago to 4.7 million. That included an increase of 424,000 in the last quarter.
Shares of SoFi rose 13% to $6.17 in premarket trading.
Read more: WisdomTree's Q3 Crypto Assets Under Management Falls 36%
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
