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Rocket Companies (NYSE:RKT) posted Q3 earnings and revenue that exceeded Wall Street estimates as expenses declined during the quarter.
Still, shares of the fintech dipped 3% in after-hours trading as Q4 adjusted revenue is expected to be $650M-$800M, falling short of the $951.3M consensus.
Q3 adjusted EPS of $0.00, topping the -$0.02, compared with -$0.02 in Q2 and -$0.08 in the year-earlier period.
Q3 adjusted revenue of $1.00B, surpassing the $956.7M consensus, was unchanged from Q2 and climbed from $888M in Q3 2022.
Total expenses were $1.09B, down from $1.10B in Q2 and from $1.19B a year before.
Closed loan origination volume of $22.2B edged down from $22.3B in the previous quarter and fell from $25.6B in Q3 2022. Gain on sale margin was 2.76% vs. 2.67% in Q2 and 2.69% in Q3 2022.
