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Mar 31, 2021
Rocket Companies Q1 2021 Earnings Report
Rocket Companies reported a substantial increase in revenue and net income, driven by growth in closed loan origination volume and gain on sale margin.
Key Takeaways
Rocket Companies reported a significant increase in revenue and net income for Q1 2021. Total revenue, net, grew to $4.6 billion, up 236% year-over-year, and net income increased to $2.8 billion, up 28x year-over-year. The company's closed loan origination volume reached $103.5 billion, a 100% increase compared to Q1 2020.
Total revenue, net, increased to $4.6 billion, up 236% year-over-year.
Net income grew to $2.8 billion, a 28x increase year-over-year.
Closed loan origination volume reached $103.5 billion, up 100% year-over-year.
Gain on sale margin increased by 49 basis points year-over-year to 3.74%.
Rocket Companies
Rocket Companies
Rocket Companies Revenue by Segment
Revenue by Segment
Direct to Consumer Revenue
CapyFin.comPartner Network Revenue
CapyFin.com Forward Guidance
Rocket Companies provided the following outlook for Q2 2021:
Positive Outlook
- Closed loan volume of between $82.5 billion and $87.5 billion.
- Net rate lock volume of between $81.5 billion and $88.5 billion.
- Gain on sale margins of 2.65% to 2.95%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income