DETROIT (AP) — DETROIT (AP) — Rocket Companies, Inc. (RKT) on Thursday reported fourth-quarter profit of $68 million.
The Detroit-based company said it had profit of 2 cents per share. Earnings, adjusted for one-time gains and costs, were 11 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The company posted revenue of $2.69 billion in the period. Its adjusted revenue was $2.44 billion, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.26 billion.
For the year, the company reported a loss of $68 million, or 5 cents per share. Revenue was reported as $6.86 billion.
For the current quarter ending in March, Rocket Companies said it expects revenue in the range of $2.6 billion to $2.8 billion.
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