Rocket Companies Swings To Q4 Profit, Expects Strong Start To 2025

(RTTNews) - Rocket Companies, Inc. (RKT) a Detroit-based fintech platform including mortgage, real estate and personal finance businesses, Thursday reported net income attributable to the company of $33.9 million for the fourth quarter of 2024, compared to a net loss of $10.6 million in the same period last year.

Earnings per share were $0.23, up from a loss of $0.09 per share a year earlier. Adjusted net income was $85 million, an improvement from a loss of $6 million in the prior-year quarter.

Total revenue rose to $1.77 billion, a substantial increase from $693.8 million in the prior-year quarter, driven by higher gains on loan sales and improved loan servicing income.

Looking ahead, the company expects adjusted revenue between $1.175 billion and $1.325 billion for the first quarter of 2025.

RKT closed Thursday's trading at $12.83 down 1.91 percent or $0.25 on the New York Stock Exchange.