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Rocket Companies Q2 Earnings Highlights: Revenue Beat, EPS Beat, Investor Day Coming In September
RKTRocket Companies(RKT) Benzinga·2024-08-01 20:49

Financial Performance - Rocket Companies reported adjusted revenue of 1.228billion,exceedingtheStreetconsensusestimateof1.228 billion, exceeding the Street consensus estimate of 1.219 billion, marking the fourth consecutive quarter of year-over-year revenue growth [1] - The company achieved earnings per share of 6 cents, surpassing the Street consensus estimate of 5 cents per share [2] - Closed loan origination volume reached 24.7billioninthequarter,reflectinga10.424.7 billion in the quarter, reflecting a 10.4% increase year-over-year [2] Future Outlook - The company anticipates adjusted revenue to be between 1.15 billion and 1.3billioninthethirdquarter[3]−RocketCompanieswillhostitsfirstInvestorDayonSeptember10indowntownDetroit[3]StrategicInitiatives−TheCEOhighlightedthecompany′sfocusonimprovingprocesses,teams,marketing,andtechnologytogrowpurchasemarketshareyear−over−year[2]−ThecompanyisimplementinganAI−fueledhomeownershipstrategytoenhancethehomeownershipexperienceforclients[3]StockPerformance−Rocketsharesdeclinedby21.3 billion in the third quarter [3] - Rocket Companies will host its first Investor Day on September 10 in downtown Detroit [3] Strategic Initiatives - The CEO highlighted the company's focus on improving processes, teams, marketing, and technology to grow purchase market share year-over-year [2] - The company is implementing an AI-fueled homeownership strategy to enhance the homeownership experience for clients [3] Stock Performance - Rocket shares declined by 2% to 15.03 in after-hours trading, with a 52-week trading range of 7.17to7.17 to 16.65 [4]