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Mar 31, 2023
Rocket Companies Q1 2023 Earnings Report
Rocket Companies reported solid Q1 2023 results amidst an uncertain macro environment, with adjusted revenue exceeding the high end of guidance.
Key Takeaways
Rocket Companies announced Q1 2023 results, generating net revenue of $666 million and adjusted revenue of $882 million, which exceeded the high end of the guidance range. The company reported a net loss of $411 million, or a loss of $0.16 per diluted share, and an adjusted net loss of $111 million, or an adjusted loss of $0.06 per diluted share. Rocket Mortgage generated $17 billion in mortgage origination closed loan volume with a gain on sale margin of 2.39%.
Generated total revenue, net of $666 million and net loss of $411 million, or a loss of $0.16 cents per diluted share.
Generated total adjusted revenue of $882 million and adjusted net loss of $111 million, or an adjusted loss of $0.06 cents per diluted share.
Rocket Mortgage generated $17 billion in mortgage origination closed loan volume. Gain on sale margin was 2.39%.
Total liquidity was approximately $8.1 billion, as of March 31, 2023.
Rocket Companies
Rocket Companies
Rocket Companies Revenue by Segment
Revenue by Segment
Direct to Consumer Revenue
CapyFin.comPartner Network Revenue
CapyFin.com Forward Guidance
In Q2 2023, Rocket Companies expects adjusted revenue of between $850 million to $1 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income