Rocket Companies slips after Q2 profit miss, softer mortgage market outlook
07/08/2026 13:07
BUZZ-Rocket Companies slips after Q2 profit miss, softer mortgage market outlook ** Rocket Companies RKT.N shares fell 3.2% to $12.8 premarket
** The mortgage lender reported Q2 adj. EPS of 16 cents per share AMC Thursday; analysts on average estimated 17 cents - data compiled by LSEG
** Pushback coming from management expectations of smaller mortgage market in Q3 than Q2 (first time since 2022), driven by 50bps rise in 30-year fixed rate - RBC Capital Markets
** Mortgage lender expects Q3 adj. rev of $2.5 billion to $2.7 billion
** As of last close, stock down 31.7% YTD
(Reporting by Pragyan Kalita in Bengaluru)
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Rocket Companies slips after Q2 profit miss, softer mortgage market outlook