We didn't raise guidance because we don't think there will be any rate cuts this year, says SoFi CEO
Speakers
Anthony Noto
— CEO, SoFi
Summary
SoFi CEO Anthony Noto discusses the company's strong quarterly results with Jim Cramer, explaining why they chose not to raise full-year guidance despite beating expectations. He cites the shift from expecting two rate cuts to none, along with Middle East uncertainty, as reasons for prudence, while still affirming robust revenue and earnings growth.
- SoFi reported 41% revenue growth and 31% margins, exceeding the 'golden rule of 40' at 72.
- Record new member growth of 35% and product growth of 37% were highlighted.
- CEO Anthony Noto explained the decision not to raise guidance is due to now expecting no rate cuts in 2024.
- The company still expects over 30% revenue growth for the full year and 40% earnings growth over three years.
- Uncertainty from the Middle East also contributed to the cautious approach to guidance.
Trade Ideas
SoFi's strong growth despite macro uncertainty.
SoFi is executing strongly with 41% revenue growth, 31% margins, record new member and product growth, and a 72% golden rule of 40 score. Despite not raising full-year guidance due to a changed rate-cut outlook and Middle East uncertainty, management remains confident in over 30% revenue growth for the full year and 40% earnings growth over the next three years, indicating the underlying business is very healthy and worth owning.
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This CNBC video, published April 30, 2026, features Anthony Noto discussing SOFI. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Anthony Noto · Tickers: SOFI