SoFi's Tangible Book Value Grew 80% in a Year. Yet the Stock Fell 9% on the News.

SoFi Technologies shares fell about 9% on Wednesday after the digital bank reported second-quarter results, even as the company posted multiple records. SoFi said tangible book value reached $9.5 billion, up 80% year over year, along with record net revenue, record 1.1 million new members, and record loan originations. The report’s profit outlook was the key area investors focused on. While full-year adjusted net revenue is now expected at $4.75 billion to $4.85 billion, up from prior guidance, the company kept adjusted EBITDA at about $1.6 billion and adjusted earnings per share near $0.60. Second-quarter net revenue rose 43% to about $1.2 billion, net income climbed 61% to $156.6 million, and deposits totaled $45.5 billion.