Rocket Companies posted a $481M loss in Q3, missing expectations, but saw mortgage volumes rise 28%.
Rocket Companies reported a $481 million net loss in Q3 2024, with revenue of $647 million, missing analyst expectations. Despite the loss, mortgage origination volumes rose 28% year-over-year to $28.5 billion. The company's stock fell 10% after hours due to concerns over reduced fourth-quarter revenue projections. Rocket Companies aims to expand its market share in both purchase and refinancing mortgage sectors.
4 months ago
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