SoFi Technologies soared past Q2 expectations, posting adjusted earnings per share of $0.08 (versus a $0.06 consensus) and revenue of $858 million (versus expectations for $804 million). The company also hiked full-year guidance for 2025 revenue and earnings.
The stock surged, continuing the tear it has been on since bottoming out during the April market sell-off. The stock was up 17% in morning trading. The shares have more than doubled since April 8.
Shares of Oracle fell over 6% in postmarket trading, after beating earnings expectations for its second quarter while coming in slightly below analyst estimates for revenue.
Adjusted earnings per share were $2.26, up 54% year on year, blowing past analyst expectations of $1.64 per share.
Revenue for the quarter was $16.06 billion, up 14% year on year, but missing estimates of $16.2 billion.
Sales from Oracle’s cloud computing unit were $8 billion for the quarter, up 34% year on year. Analysts were expecting $8.8 billion.
Oracle shares got a huge boost in September, after announcing a $300 billion deal with OpenAI, but all of that value has since disappeared. Shares are up 30% for the year so far.
Last quarter, Oracle reported $455 billion in RPOs (remaining performance obligations, or backlogged business). This quarter, that figure shot up to $528 billion, up 438% year on year.
The company announced it has sold its interest in its Ampere chip company. Oracle Chairman and CTO Larry Ellison said, “We are now committed to a policy of chip neutrality where we work closely with all our CPU and GPU suppliers. Of course, we will continue to buy the latest GPUs from Nvidia, but we need to be prepared and able to deploy whatever chips our customers want to buy. There are going to be a lot of changes in AI technology over the next few years and we must remain agile in response to those changes.”
