Rocket Companies (NYSE:RKT) Third Quarter 2022 Results
Key Financial Results
Revenue: US$1.34b (down 58% from 3Q 2021).
Net income: US$6.91m (down 91% from 3Q 2021).
Profit margin: 0.5% (down from 2.4% in 3Q 2021). The decrease in margin was driven by lower revenue.
EPS: US$0.058 (down from US$0.55 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Rocket Companies EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 18%. Earnings per share (EPS) exceeded analyst estimates.
Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Mortgage industry in the US.
The company's shares are down 4.9% from a week ago.
Before you take the next step you should know about the 2 warning signs for Rocket Companies that we have uncovered.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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