Rocket Companies Inc (RKT)

[ProfitScout]

Rocket Companies Announces First Quarter Results

Wed, May 5, 2021, 4:05

- Grew revenue, net to $4.6 billion, up 236% year-over-year
- Increased Adjusted Revenue to $4.0 billion, up 91% year-over-year¹
- Grew net income to $2.8 billion, up 28x year-over-year
- Increased Adjusted Net Income to $1.8 billion, up 170% year-over-year¹

DETROIT, May 5, 2021 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), a Detroit-based holding company consisting of tech-driven real estate, mortgage and eCommerce businesses – including Rocket Mortgage, Amrock, Rocket Homes and Rocket Auto – today announced results for the quarter.

Jay Farner, Rocket Companies' Vice Chairman and CEO, stated, "The combination of our technology platform and Rocket Cloud Force of highly trained professionals, continues to deliver scalability and a client experience that is unmatched. In fact, this was the sixth consecutive quarter where our team was able to double the company's home loan volume year-over-year.While the mortgage business continues to perform – with March producing our highest-ever purchase application volume – we also had success in our other verticals. Rocket Auto increased the number of vehicles it sold 65% compared to this time last year, Amrock achieved its highest level of closings in company history with an increase of 110% from the first quarter of 2020 and Rocket Homes increased the average monthly visitors on its website by more than 300% versus Q1 last year. Our flywheel only continues to accelerate as we look forward to the second quarter and the rest of 2021."

News Link:
https://finance.yahoo.com/news/rocket-companies-announces-first-quarter-200500839.html