Rocket Companies Beats Q4 Earnings Forecasts, Surpasses Analyst Expectations (CORRECTED)
Portfolio Pulse from Benzinga Insights
Rocket Companies (NYSE:RKT) reported Q4 earnings with an EPS of $0.0, missing the estimated earnings by 100.0% against an estimate of $-0.04. Revenue increased by $202.00 million from the same period last year. In the previous quarter, RKT beat the EPS estimate by $0.02, leading to a 6.54% share price increase the next day.
February 22, 2024 | 9:15 pm
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Rocket Companies reported a significant miss in Q4 earnings with an EPS of $0.0 against an estimated $-0.04, but saw a revenue increase of $202M from the previous year.
The significant miss in estimated earnings is likely to negatively impact investor sentiment in the short term, despite the increase in revenue. Historical data shows that past earnings performance, such as the EPS beat in the previous quarter, had a positive effect on the stock price. However, the current miss may reverse this trend.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100