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Figure Tech shares surge 24% on strong earnings and revenue beat, with loan volume up 70% year-over-year.
Figure Technology shares jumped 24% to $42.76 on Friday after reporting third-quarter earnings of 34 cents per share, far exceeding the 15-cent estimate, and $156.4 million in revenue, surpassing the $119.4 million forecast.
The company saw a 70% year-over-year increase in consumer loan volume, reaching $2.5 billion, with its Figure Connect platform driving $1.1 billion in transaction volume.
New product lines contributed over $80 million in volume, and net income surged 227% year-over-year to $90 million.
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Las acciones de Figure Tech suben un 24% gracias a las sólidas ganancias y los ingresos, con un volumen de préstamos que aumentó un 70% año tras año.