Rocket Companies Down 2% on Third Quarter Results

Rocket Companies Inc. RKT,
+ 0.69%
Shares fell 2% after-hours trading on Tuesday after the parent company of Quicken Loans and provider of technology services related to homeownership and other personal financial transactions, reported its third quarter results . Rocket Companies reported net income of $ 2.99 billion, or 54 cents per share, compared to net income of $ 495 million in the last year’s quarter. After adjustments, the company reported diluted EPS of $ 1.21 per share. Revenue improved 186% to $ 4.63 billion from $ 1.62 billion a year ago. Analysts polled by FactSet expected net profit of $ 1.09 on revenue of $ 4.55 billion. Shares of Rocket Companies, which debuted on public markets on August 6, are flat this year. The larger SPX index of the S&P 500,
-0.14%
climbed 10% in 2020.