Page 49 - Jay Farner News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Rocket Companies, a Detroit-based holding company consisting of personal finance and consumer technology brands, today reported strong third-quarter earnings that beat the expectations of analysts. Rocket, parent of Rocket Mortgage and Rocket Home, posted adjusted net income of $1.14 billion, or 57 cents per adjusted diluted share, exceeding the 48 cents per share predicted by analysts. It reported adjusted revenue of $3.2 billion, topping consensus estimates of $2.96 billion.

The stability of the real estate market depends heavily on the health of our job market. Without jobs, people can’t build, sell, or buy homes, spelling disaster for the mortgage and housing industries. Soon enough, though, the resignation wave that’s been building since last Spring will catch up with the mortgage industry, potentially washing out smaller companies and increasing competition amongst larger players.

While the company produced $88 billion during the period, it had a major margin squeeze in its TPO Pro channel.

Rocket Mortgage is targeting homebuyers more aggressively in marketing campaigns designed to bring consumers directly to its website.

/PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), a Detroit-based holding company consisting of tech-driven real...