Rocket Companies Stock Is Volatile After-Hours, Company Exceeds Q3 Expectations But Lowers Q4 Guidance
Portfolio Pulse from Ryan Gustafson
Rocket Companies, Inc. (NYSE:RKT) reported Q3 earnings of four cents per share, beating estimates of losses of two cents per share. The company also reported revenue of $1.002 billion, beating estimates of $975.54 million, and increased approximately 11% YoY. However, the company lowered its Q4 revenue guidance to a range between $650 million and $800 million, versus the $948.56 million estimate.
November 02, 2023 | 8:55 pm
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Rocket Companies exceeded Q3 expectations but lowered Q4 guidance, which may lead to volatility in the stock price.
Rocket Companies reported strong Q3 results, beating estimates, which is positive for the stock. However, the company lowered its Q4 guidance, which is a negative signal and could lead to uncertainty and volatility in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100