Rocket Companies dip 2% on Q3 results

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Rocket Companies Inc. shares dipped 2% in after-hours trading Tuesday after the Quicken Loans’ parent company and provider of technology services related to homeownership and other personal financial transactions, reported fiscal third-quarter earnings. Rocket Companies reported net income of $2.99 billion, or 54 cents a share, compared with net income of $495 million in the year-ago quarter. After adjustments, the company reported diluted EPS of $1.21 a share. Revenue improved 186% to $4.63 billion from $1.62 billion a year ago. Analysts surveyed by FactSet had expected net income of $1.09 on revenue of $4.55 billion. Shares of Rocket Companies, which debuted on public markets Aug. 6, are flat this year. The broader S&P 500 index has climbed 10% in 2020.
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