NYSE:RKTDiversified Financial
Rocket (RKT) Stock Faces A Big Question After Margin Fueled Profit Surge
Rocket Companies stock jumped about 4% today, yet the real story sits in the income statement. In one of the toughest housing quarters in years, Rocket posted adjusted revenue of about US$2.8b and adjusted diluted earnings per share of US$0.16, which management called its most profitable quarter in four years. For a stock that has been treated as a richly priced mortgage cycle play with a high P/E, the headline this time is simple: profitability and margins, not just rate hopes, are doing the...