SoFi's Q1 Results Boost Stock Price and Profitability Outlook

SoFi Technologies reported a smaller Q1 loss than expected and remains optimistic about achieving profitability by the end of the year. The online lender is currently suing the Biden administration over the student-loan repayment pause, which it claims has caused a revenue loss of up to $400 million and a profit loss of up to $200 million. SoFi's shares rose 7.5% in early trading following the earnings report.