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Jun 30, 2024
Rocket Companies Q2 2024 Earnings Report
Rocket Companies reported Q2 2024 results, with adjusted revenue exceeding guidance and increasing year-over-year, and GAAP net income of $178 million.
Key Takeaways
Rocket Companies reported Q2 2024 total revenue of $1.3 billion and adjusted revenue of $1.2 billion. GAAP net income was $178 million, or $0.01 per diluted share, and adjusted net income was $121 million, or $0.06 per diluted share. Closed loan origination volume increased by 10.4% year-over-year to $24.7 billion, and gain on sale margin increased to 2.99%.
Total revenue, net of $1.3 billion and GAAP net income of $178 million, or $0.01 per diluted share.
Adjusted revenue of $1.2 billion and adjusted net income of $121 million, or adjusted earnings of $0.06 per diluted share.
Rocket Mortgage generated $24.7 billion in closed loan origination volume, a 10.4% increase year-over-year.
Gain on sale margin was 2.99%, an increase of 32 bps year-over-year.
Revenue by Segment
Forward Guidance
In Q3 2024, Rocket Companies expects adjusted revenue between $1.15 billion to $1.3 billion.
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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