Lucas Jackson/ReutersSoFi Technologies fell as high as 14% Friday, after the fintech company posted mixed second-quarter earnings.Below analyst estimates, the company stated that it expected third quarter revenue guidance of $245m to $255m.This is SoFi’s first earnings report since its June SPAC merger.Subscribe to our daily newsletter 10 Things Before The Opening Bell.SoFi Technologies shares fell by as much as 14% Friday, after the fintech company's first earnings report was made public.The mixed results of the second quarter also showed that third-quarter revenue guidance was lower than analyst expectations.These are the main numbers:Revenue: $237.2 Million compared to estimates of $218.6 millions$237.2 Million versus estimates $218.6 Million Earnings per Share: -$0.48, against estimates of -$0.06-$0.48, as compared to estimates of -$0.06. Third-quarter revenue guidance: $245million to $255m, versus estimates at $270mSoFi stated that the decision by the Biden Administration to extend a moratorium for monthly student loan payments from September 30 to January 31 will result in a reduction of $40 million in student loan refinancing revenues.SoFi saw strong growth in its second quarter despite the less than expected results. The number of members increased 113% year-overyear to 2.6million, and the number of products grew 123% to 3.0 million. Revenue for the financial services segment, which also includes SoFi's investment platform saw a 608% increase to $17million.Anthony Noto, CEO of SoFi, stated that "We drove our eighth straight quarter of accelerating membership growth, with even more rapid growth in cross-buying by existing members, increased the Galileo account base at nearly 79million, and raised nearly $2.5 billion in our successful transition into a public company."SoFi reiterated its full year 2021 guidance, which included an adjusted net revenue of $980 millions and adjusted EBITDA at $27 million. Analysts expect SoFi to report a revenue of $982 million in 2021.SoFi and Chamath Palihapitiya’s Social Capital completed their SPAC merger in June.Markets Insider
