SoFi Technologies, Inc. SOFI is scheduled to report its second-quarter 2023 results on Jul 31, before the market open.
The company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate in three of the trailing four quarters and matched on one instance, delivering an average earnings surprise of 23%.
Q2 Expectations
The Zacks Consensus Estimate for SoFi’s revenues in the to-be-reported quarter is pegged at $474.6 million, indicating a 30.9% year-over-year increase. The top line is likely to have benefited from the improving performance in lending and financial services and is also expected to have been supported by the strengthening tech platform.
SoFi Technologies, Inc. Price and EPS Surprise
SoFi Technologies, Inc. price-eps-surprise | SoFi Technologies, Inc. Quote
The consensus estimate for the bottom line in the to-be-reported quarter stands at a loss of 6 cents per share. The company incurred a loss of 12 cents per share in the year-ago quarter. A prudent strategy is likely to have benefited the company in the form of diversification and enhanced durability, consequently leading to an improvement in profitability.
What Our Model Says
Our proven model predicts an earnings beat for SOFI this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
SOFI has an Earnings ESP of +6.90% and a Zacks Rank of 3.
Other Stocks to Consider
Here are a few other stocks from the broader Zacks Business Services sector, which according to our model, also have the right combination of elements to beat on earnings this season:
Aptiv APTV currently has a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the bottom line is pegged at $1.01 per share, up more than 100% from the year-ago figure. The consensus mark for revenues is pegged at $4.7 billion, up 15.8% from the figure reported a year ago. APTV had an average negative surprise of 8.1% in the previous four quarters.
APTV has an Earnings ESP of +12.88. The company is scheduled to release its second-quarter earnings on Aug 3.
Fiserv FI currently has a Zacks Rank of 2. The Zacks Consensus Estimate for the bottom line is pegged at $1.81 per share, up 16% from the year-ago reported figure. The consensus mark for revenues is pegged at $4.52 billion, up 6.8% from the prior-year reported figure. FI had an average surprise of negative 0.39% in the previous four quarters.
FI has an Earnings ESP of +0.42. The company is scheduled to declare its second-quarter results on Jul 26.
S&P Global SPGI currently has a Zacks Rank of 2. The Zacks Consensus Estimate for the bottom line is pegged at $3.12 per share, up 11% from the year-ago reported figure. The consensus mark for revenues is pegged at $3.06 billion, up 2.3% from the prior-year reported figure. SPGI had an average surprise of 3.1% in the previous four quarters.
SPGI has an Earnings ESP of +1.58. The company is slated to declare its second-quarter results on Jul 27.
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Fiserv, Inc. (FI) : Free Stock Analysis Report
S&P Global Inc. (SPGI) : Free Stock Analysis Report
Aptiv PLC (APTV) : Free Stock Analysis Report
SoFi Technologies, Inc. (SOFI) : Free Stock Analysis Report