US EditionRocket Companies Announces First Quarter 2025 Results - Rocket Companies (NYSE:RKT)
- Rocket Companies reported its first quarter 2025 financial results from Detroit on May 8, 2025, showing strong operational metrics and liquidity.
- The results followed initiatives like the 1-0 Rate Break Buy Down product launched in February and pending acquisitions of Redfin and Mr. Cooper announced in March.
- Rocket Mortgage reported adjusted revenue of $1.3 billion for the first quarter, matching the upper range of their expected forecast, alongside a 17% rise in net rate lock volume, reaching $26.1 billion.
- Varun Krishna, CEO of Rocket Companies, emphasized the strength and versatility of the Rocket platform in adapting to diverse market conditions, noting the company's robust liquidity position of $8.1 billion, which includes $1.4 billion held in cash.
- The company expects the Mr. Cooper acquisition to close in Q2 or Q3 2025, which is a condition for upsizing its credit facility to $2.25 billion driven by strong demand.
24 Articles
24 Articles
Journal Gazette & Times-Courier
Rocket Companies Announces First Quarter 2025 Results
Generated Q1'25 total revenue, net of $1.0 billion and adjusted revenue of $1.3 billion. Adjusted revenue came in at the high end of our guidance rangeReported Q1'25 GAAP net loss of $212 million, or $0.08 GAAP diluted loss per share…
Rocket Companies Announces First Quarter 2025 Results - Rocket Companies (NYSE:RKT)
Generated Q1'25 total revenue, net of $1.0 billion and adjusted revenue of $1.3 billion. Adjusted revenue came in at the high end of our guidance range Reported Q1'25 GAAP net loss of $212 million, or $0.08 GAAP diluted loss per share and adjusted net income of $80 million, or $0.04 adjusted diluted earnings per share Delivered Q1'25 adjusted EBITDA of $169 million DETROIT, May 8, 2025 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket C…
Rocket Talks Mr. Cooper and Redfin Deals, Touts AI on Earnings
Rocket Companies, ahead of the completed acquisition of Mr. Cooper and the deal to purchase Redfin, continued to see high revenues and other success in its recent Q1 2025 earnings call. The company reported a Q1 adjusted revenue of $1.3 billion, which executives said came in “at the high end of our guidance range.” This… The post Rocket Talks Mr. Cooper and Redfin Deals, Touts AI on Earnings appeared first on RISMedia.
Rocket shifts focus to integration after Q1 growth
Lower rates helped Detroit-based Rocket Companies, the parent of Rocket Mortgage, improve its originations in the first quarter of the year — a period also marked by the announcement of two major acquisitions in Redfin and Mr. Cooper. But the second quarter is expected to look different. While the macroeconomic landscape made mortgage production more challenging in April, the company will now shift its focus from closing deals to integration. B…
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