Rocket Companies: 4Q Earnings Snapshot

DETROIT (AP) _ Rocket Companies, Inc. (RKT) on Thursday reported fourth-quarter profit of $140 million.

On a per-share basis, the Detroit-based company said it had net income of $1.09. Earnings, adjusted for one-time gains and costs, were $1.14 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The company posted revenue of $4.7 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $3.84 billion.

For the year, the company reported profit of $198 million, or $1.76 per share. Revenue was reported as $15.74 billion.

Rocket Companies shares have declined roughly 2% since the beginning of the year.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RKT at https://www.zacks.com/ap/RKT

Categories: Business News