RKT Jumps After Pre-Announcing 437% Revenue Growth
Rocket Companies Announces Preliminary Second Quarter Results
-Closed loan origination volume of $72.3 billion increased 40% compared to the first quarter of 2020 and 126% compared to the second quarter of 2019
-Total net revenue of $5.0 billion increased 269% compared to the first quarter of 2020 and 437% compared to the second quarter of 2019
-Net rate lock volume was $92.0 billion, an increase of 64% compared to the first quarter of 2020 and 170% compared to the second quarter of 2019
-Gain on sale margin was 5.19%, up from 3.25% in the first quarter of 2020 and 3.22% in the second quarter of 2019
-Net income was $3.5 billion compared to net income of $97 million in the first quarter of 2020 and a net loss of $54 million in the second quarter of 2019
-Adjusted revenue of $5.3 billion increased 152% compared to first quarter 2020 and 300% compared to second quarter 2019
-Adjusted net income was $2.8 billion, an increase of 335% compared to first quarter 2020 and 995% compared to second quarter 2019
-Adjusted EBITDA of $3.8 billion grew 317% compared to the first quarter of 2020 and 868% compared to the second quarter of 2019
finance.yahoo.com/ne...econd-115100031.html
finance.yahoo.com/ne...ncing-134011906.html
Rocket Companies Announces Preliminary Second Quarter Results
-Closed loan origination volume of $72.3 billion increased 40% compared to the first quarter of 2020 and 126% compared to the second quarter of 2019
-Total net revenue of $5.0 billion increased 269% compared to the first quarter of 2020 and 437% compared to the second quarter of 2019
-Net rate lock volume was $92.0 billion, an increase of 64% compared to the first quarter of 2020 and 170% compared to the second quarter of 2019
-Gain on sale margin was 5.19%, up from 3.25% in the first quarter of 2020 and 3.22% in the second quarter of 2019
-Net income was $3.5 billion compared to net income of $97 million in the first quarter of 2020 and a net loss of $54 million in the second quarter of 2019
-Adjusted revenue of $5.3 billion increased 152% compared to first quarter 2020 and 300% compared to second quarter 2019
-Adjusted net income was $2.8 billion, an increase of 335% compared to first quarter 2020 and 995% compared to second quarter 2019
-Adjusted EBITDA of $3.8 billion grew 317% compared to the first quarter of 2020 and 868% compared to the second quarter of 2019
finance.yahoo.com/ne...econd-115100031.html
finance.yahoo.com/ne...ncing-134011906.html