Loading...
•
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.
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 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