Rocket Companies Stock Is Volatile After-Hours, Company Exceeds Q3 Expectations But Lowers Q4 Guidance -

Rocket Companies, Inc. (NYSE:RKT) shares are volatile in Thursday’s after-hours session on the heels of the company’s third-quarter earnings results. Here’s a look.

What To Know: Rocket Companies reported quarterly earnings of four cents per share, beating estimates of losses of two cents per share.

It clocked revenue of $1.002 billion, which beat the estimates of $975.54 million, and increased approximately 11% year-over-year.

The company also reported $22.2 billion in mortgage origination closed loan volume. Rocket Companies boasted its third consecutive quarter of gain on sale margin increase, at 2.76%.

Rocket Companies anticipates fourth-quarter revenue to be in a range between $650 million and $800 million versus the $948.56 million estimate.

“I am very proud of our team for delivering strong results against a challenging economic backdrop,” said CEO Varun Krishna. “In today’s climate, innovation is essential. With the incredible amount of data in our ecosystem, paired with the transformative power of AI, Rocket is uniquely positioned to disrupt the industry. We’re just getting started and can’t wait to show you what we are building to revolutionize homeownership.”

RKT Price Action: Shares of RKT were up 1.85% at $7.95 in the after-hours session at the time of publication, according to Benzinga Pro.

RKTRocket Companies Inc

$14.53-0.09%

Overview

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.