SoFi Stock Rises Most in Three Months on Increased 2023 Forecast

SoFi Technologies Inc. increased its revenue forecast for 2023 and said deposits more than tripled from a year earlier. Third-quarter total deposits jumped to $15.7 billion, topping the $14.9 billion average estimate of analysts surveyed by Bloomberg. More than 90% are from direct-deposit members, Chief Executive Officer Anthony Noto said in a statementBloomberg Terminal Monday.

SoFi Technologies Inc. increased its revenue forecast for 2023 and said deposits more than tripled from a year earlier.

Third-quarter total deposits jumped to $15.7 billion, topping the $14.9 billion average estimate of analysts surveyed by Bloomberg. More than 90% are from direct-deposit members, Chief Executive Officer Anthony Noto said in a statementBloomberg Terminal Monday.

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