Why SoFi Stock Jumped 24% in July
Digital bank SoFi Technologies (NASDAQ: SOFI) stock gained 26% in July, according to data provided by S&P Global Market Intelligence. The market celebrated some new launches and an excellent earnings report.
SoFi offers digital banking services, but it stands out in a few ways from what's an increasingly crowded market. It targets students and young professionals, and it has a large lending segment, since it started out as a student loan co-op.
It's growing quickly, and adjusted net revenue growth accelerated in the 2025 second quarter, increasing 44% year over year, its highest growth in two years. It was the second consecutive quarter with record add-ons, with 850,000 new members, a 34% increase over last year. Along with attracting new members, its strategy is to grow by cross-selling members new products, and it added 1.26 million new products in the quarter. SoFi has also become reliably profitable, and earnings per share (EPS) increased from $0.01 to $0.08 in the quarter.
Source Fool.com
