(RTTNews) – SoFi Technologies, Inc. (SOFI) on Tuesday reported third-quarter net income of $58.06 million, or $0.05 per share, compared to a net loss of $276.87 million. dollars, or $0.29 per share in the same quarter last year. The financial services company also raised its full-year outlook.

SoFi Technologies had impairment charges of $247.17 million in the year-ago quarter.

On average, 14 analysts expected earnings of $0.04 per share for the quarter. Analyst estimates generally exclude special effects.

Quarterly revenue rose to $697.12 million from $537.21 million a year ago. The consensus estimate was $632.33 million.

Net interest income was $431.0 million in the third quarter, increasing 25% year-over-year, driven by a 35% increase in average interest-bearing assets.

Looking forward, SoFi now expects adjusted revenue of $2.535 billion to $2.550 billion, up from its previous forecast of $2.43 billion to $2.47 billion.

The full-year adjusted EPS outlook was raised to $0.11 to $0.12 from $0.09 to $0.10.

Analysts expect the company to report earnings of $0.11 per share for the year on revenue of $2.45 billion.

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