NEW YORK (Reuters) – SoFi Technologies shares gained on Tuesday after the financial technology firm reported better-than-expected quarterly results buoyed by strong demand for its loan products as well as retail trading business.
SoFi’s net revenue rose 33% to $771 million in the quarter ended in March, while adjusted earnings per share tripled to 6 cents from 2 cents a year earlier.
Wall Street analysts had expected revenue of about $739 million and adjusted earnings per share of 4 cents.
SoFi’s shares rose to as high as $14.50 following the results, up nearly 10%. It was last up 6% to $13.94.
(Reporting by Chibuike Oguh in New York, Editing by Franklin Paul)
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