Oct 28 (Reuters) - SoFi Technologies ( SOFI ) raised its

annual profit forecast above Wall Street estimates on Tuesday

after a surge in fee-based revenue fueled record third-quarter

results for the financial technology major.

The company has grown into one of the most prominent names

in the U.S. fintech industry, evolving from a student-loan

refinancing startup into a full-fledged financial services firm,

offering everything from IPO investing to credit cards and

savings accounts.

Its ascent to a roughly $36 billion juggernaut has mirrored

the rise of younger consumers, who are turning away from

traditional banks in favor of app-based platforms.

SoFi now expects full-year 2025 adjusted earnings per share

of about 37 cents, versus 31 cents per share earlier. Analysts

had expected 32 cents per share, according to estimates compiled

by LSEG.

STRONG DEMAND

SoFi's financial services business saw revenue surge 76% in

the quarter to $419.6 million.

Consumer appetite for credit and investment products has

kept demand for financial services steady through a period of

economic uncertainty.

"The health of our members is strong and our portfolio is in

great shape," SoFi CEO Anthony Noto told Reuters, adding that

credit performance had been "excellent" in the reported quarter,

with net-charge-offs improving.

Fintech lenders are looking to take market share from

traditional banks by offering digital platforms and products

that appeal to younger, tech-savvy customers.

SoFi reported record total loan originations of $9.9

billion, up 57% from a year ago, thanks to strong demand across

personal, student and home loans. Fee-based revenues surged 50%

in the quarter over the previous year.

CRYPTO PUSH

Once dismissed as a speculative fringe, the crypto sector

has steadily gained legitimacy in the financial world.

Noto said SoFi was on track to launch crypto trading this

year, and "SoFi USD stablecoin will be coming in the first half

of 2026".

The lender's third-quarter adjusted revenue increased 38% to

a record $950 million from a year earlier, beating an

expectation of $886.6 million.

Adjusted profit more than doubled to 11 cents per share in

the three months ended September 30, topping an expectation of 8

cents.