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SoFi Technologies Inc (NASDAQ:SOFI) shares initially rose on Tuesday following the company’s third-quarter financial results, but have since reversed. Here’s a look at the quarter’s key metrics.

Result Q3: According to Benzinga Pro, SoFi reported third-quarter adjusted revenue of $689.445 million, beating analyst estimates of $632.328 million. The company reported third-quarter profit of 5 cents per share, beating estimates of 4 cents per share.

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Total sales increased 30% year-over-year. Financial services revenue increased 102% year-over-year, lending segment revenue increased 14% year-over-year, and technology platform revenue increased 14% year-over-year. Net interest income of $431 million increased 25% year over year.

SoFi said it added 756,000 new members in the third quarter, bringing its total to 9.4 million, up 35% year over year. Product additions totaled nearly 1.1 million in the quarter.

“This quarter was the strongest quarter in our history. “Our results reflect how SoFi continues to deliver sustainable growth, how our innovation and brand building attracts more members and customers to our platform than ever before, and how we deliver strong and increasing returns,” he said Anthony NotoCEO of SoFi.

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Outlook: According to Benzinga Pro, SoFi raised its full-year revenue forecast to a new range of $2.535 billion to $2.55 billion from $2.425 billion to $2.465 billion, versus estimates of $2.45 billion.

Revenue guidance now assumes lending revenue will reach at least 100% of 2023 levels, financial services revenue will increase more than 80% year-over-year, and technology platform revenue will be in the low to high teens year-over-year will grow.

The company expects full-year adjusted EBITDA of $640 million to $645 million and full-year earnings of 11 cents to 12 cents per share. The company continues to expect to add at least 2.3 million new members in 2024, representing 30% year-over-year growth.

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