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SoFi Tumbles After Earnings Reportedly Released Ahead of Schedule

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By Sam Boughedda

Investing.com -- SoFi Technologies (NASDAQ:SOFI) stock has tumbled 18% Tuesday after the company seemed to have accidentally reported its first-quarter earnings ahead of its scheduled release after the close Tuesday, May 10th.

In a post labeled "test," the company seemed to have revealed a loss per share of $0.14 on revenue of $322 million, although there has been no confirmation.

Analysts polled by Investing.com expected a loss of $0.15 per share on revenue of $286.32 million.

The company's 'test' release showed new member adds of 408,000, with new product adds of 689,000.

It also said that SoFi expects revenue between $330 million and $340 million in the second quarter, while it now expects full-year 2022 adjusted net revenue of $1.5 billion to $1.51 billion.

There has been no confirmation yet, but the release has resulted in SoFi shares being halted pending news.

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