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Financial services company Rocket Companies (NYSE:RKT) reported second-quarter financial results after market close Thursday.
Here are the key highlights.
What Happened: Rocket Companies reported adjusted revenue of $1.228 billion, which beat a Street consensus estimate of $1.219 billion, according to data from Benzinga Pro.
Adjusted revenue was up year-over-year for a fourth straight quarter, the company said.
The company reported earnings per share of 6 cents, beating a Street consensus estimate of 5 cents per share.
Closed loan origination volume was $24.7 billion in the quarter, up 10.4% year-over-year.
"Our team achieved impressive results in Q2. We, again, grew our purchase market share year-over-year by making continuous improvements across our processes, teams, marketing, and technology," Rocket Companies CEO Varun Krishna said.
Read Also: ‘Transforming The Home Buying Process’: Rocket Mortgage Unveils AI-Based Rocket Logic Platform
What's Next: The company expected adjusted revenue to be in a range of $1.15 billion to $1.3 billion in the third quarter.
Rocket will host its first Investor Day on Sept. 10 in downtown Detroit.
"With our AI-fueled homeownership strategy, and by helping our clients overcome obstacles to achieve their dreams, we are making the homeownership experience easier and more accessible for all," Krishna said.
RKT Price Action: Rocket shares are down 2% to $15.03 in after-hours trading Thursday, versus a 52-week trading range of $7.17 to $16.65.
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Photo: Shutterstock
Posted In: RKT
