Rocket Companies shares dip 1% on earnings miss

/ / News

Rocket Companies Inc. shares dipped 1% 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 that missed Wall Street estimates. 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. 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.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.