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Jun 30, 2022
Rocket Companies Q2 2022 Earnings Report
Rocket Companies reported a net revenue of $1.4 billion and net income of $60 million for Q2 2022. The company focused on investing in its business and transforming its Rocket platform.
Key Takeaways
Rocket Companies reported Q2 2022 results, which included a net revenue of $1.4 billion and a net income of $60 million. The company is actively investing in its business and transforming the Rocket services and engagement platforms. Expenses were reduced by approximately $300 million during the quarter.
Generated total revenue, net of $1.4 billion and delivered net income of $60 million, or 2 cents per diluted share.
Rocket Mortgage generated $34.5 billion in mortgage origination closed loan volume with a gain on sale margin of 2.92%.
Exceeded target expense reduction by $100 million, reducing expenses $300 million quarter-over-quarter.
Grew servicing book unpaid principal balance to $538 billion at June 30, 2022, up 6% from June 30, 2021.
Revenue by Segment
Forward Guidance
Rocket Companies expects the following ranges in Q3 2022:
Positive Outlook
- Closed loan volume of between $23 billion and $28 billion.
- Net rate lock volume of between $23 billion and $30 billion.
- Gain on sale margins of 2.50% to 2.80%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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