SoFi's stock dropped 11% despite strong Q1 results due to lower Q2.

Fintech firm SoFi's stock dropped 11% despite strong Q1 results, including a 37% year-over-year increase in net revenue. The decline was mainly due to the company's second-quarter adjusted net revenue guidance, which fell below analyst expectations. SoFi's CEO Anthony Noto sees 2024 as a "transitional year" as the company focuses on building its financial services and tech platform segments.

May 03, 2024
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