WASHINGTON (dpa-AFX) - Rocket Companies (RKT) on Thursday reported second-quarter net revenue of $2.78 billion, up from $1.45 billion in the year-ago quarter.
Net income attributable to Rocket Companies was $230 million, compared with a net loss attributable to Rocket Companies of $2 million a year earlier. Earnings per share were $0.08, versus a loss per share of $0.01 in the prior-year period.
The improvement was driven by a sharp increase in gain on sale of loans, net to $1.21 billion from $816 million, while loan servicing income, net rose to $450 million from $202 million. Total expenses increased to $2.50 billion from $1.43 billion. Income before income taxes climbed to $281 million from $24 million.
RKT is currently trading after hours at $12.39 down $0.83 or 6.28 percent on the New York Stock Exchange.
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