SoFi Stock (SOFI) Soars 15% on Record Quarter, Crypto Reaches 503,000 Products
Bitcoin Magazine SoFi Stock (SOFI) Soars 15% on Record Quarter, Crypto Reaches 503,000 Products SoFi shares jumped 14.6% to $16.56 after a record third quarter, with crypto reaching 503,070 products...
SoFi shares jumped 14.6% to $16.56 after a record third quarter, with crypto reaching 503,070 products and adjusted EPS of $0.18 beating estimates.
SoFi Technologies reported record third-quarter 2026 results earlier Tuesday, and its crypto business reached 503,070 products by quarter-end. At the time of writing, SoFi shares were up 14.59% on the day at $16.56.
The lender raised full-year guidance at the same time. SoFi returned to crypto investing in the fourth quarter of 2025, when it became the first U.S. nationally chartered bank to offer retail crypto trading.
That said, crypto remains a small line in the results. Crypto transaction revenue totaled $161.6 million in the quarter, but the cost of that revenue reached $160.0 million. Net crypto transaction revenue was $1.6 million, equal to 0.1% of total net revenue.
SoFi earns a fee on each buy and sell order, while the bulk of gross volume flows through as cost. For the first nine months of 2026, net crypto transaction revenue totaled $3.7 million on $417.5 million in gross revenue.
Per the company, member trading picked up in September. Members placed 218,469 trades, a 14% increase from August’s 191,359. Buy trades rose 18% to 133,937, and sell trades rose 8% to 84,532. Buy volume reached $33.8 million, and sell volume reached $39.1 million.
Members placed 25 trades of $100,000 or more. Bitcoin led trading volume with a 39% share. New traders drove much of the activity. 44% of September traders made their first-ever trade that month, 20% had traded before but not in August, and 36% traded in both months.
SoFi Crypto skews younger. 43% of members are millennials, the company said, born between 1981 and 1996, and the median member age is 36. On the stablecoin side, SoFi became the first national bank to go live with stablecoin settlement across Mastercard’s global payments network.
Outside of crypto and broadly speaking, SoFi beat Wall Street expectations for the third quarter of this year. The company earned $0.18 per share on an adjusted basis, topping the Zacks Consensus Estimate of $0.17 and rising from $0.11 a year earlier. Revenue reached $1.37 billion, 9.08% above consensus and up from $949.63 million a year ago.
SoFi has beaten consensus EPS estimates three times over the last four quarters and topped revenue estimates in all four. Shares have fallen 44.8% this year, while the S&P 500 gained 12.1%.
Zacks currently rates the stock Rank #3 (Hold), which signals performance in line with the market. Analysts expect $0.20 per share on $1.32 billion in revenue next quarter and $0.60 per share on $4.87 billion for the full year.
Founded as a student loan refinancing startup, SoFi has evolved into a full-scale financial services platform offering products ranging from IPO investing to credit cards and high-yield savings accounts. SoFi has a market cap of $21.5 billion.
Asanat Analysis — Why it matters
SoFi's 15% single-day move on earnings reflects investor appetite for fintech platforms diversifying into crypto custody and trading. The 503k product milestone suggests SoFi has scaled its crypto offering substantially—likely spanning spot trading, staking, and possibly derivatives. This signals growing institutional acceptance of embedded crypto services within mainstream brokerage platforms, mirroring Fidelity's multi-year playbook.
The timing matters: SoFi operates under a national bank charter (acquired 2022), meaning its crypto services carry regulatory clarity competitors lack. A record quarter during this period suggests crypto adoption continues among retail segments even as institutional players consolidate. However, product count inflation (503k) warrants scrutiny—exchanges often bundle similar instruments to inflate metrics; the revenue and user engagement breakdown will determine if this represents genuine diversification or accounting sleight.
For the sector, this validates the fintech-as-on-ramp thesis: mainstream brokerages increasingly compete with native crypto platforms on convenience rather than features. SoFi's strength signals that regulatory legitimacy and integrated cash management outweigh feature depth for many users, pressuring pure-play exchanges to justify premium valuations.