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Rocket Cos. shares sink despite swinging to a profit, record loan originations

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Rocket Companies’ shares fell sharply in the extended session Wednesday after its first post-IPO results missed Wall Street estimates even though it swung to a profit from the year-ago period and posted record closed-loan-origination volume amid low interest rates.

Shares of the parent company of mortgage-lending giant Quicken Loans fell as much as 8% in after-hours trading, after closing nearly 2% higher, to $31.31, in the regular session.

Rocket Cos.
RKT,
+1.95%
,
which went public last month, reported second-quarter net income of $3.46 billion versus a loss of $54 million in the year-ago period. Adjusted net income was $2.85 billion,…



Source marketwatch.com

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