Rocket Companies Inc Q1 Profit Decreases, misses estimates

(RTTNews) - Rocket Companies Inc (RKT) released earnings for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $1.04 billion, or $0.40 per share. This compares with $2.78 billion, or $1.07 per share, in last year's first quarter.

Excluding items, Rocket Companies Inc reported adjusted earnings of $293 million or $0.15 per share for the period.

Analysts on average had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 41.2% to $2.67 billion from $4.54 billion last year.

Rocket Companies Inc earnings at a glance (GAAP) :

-Earnings (Q1): $1.04 Bln. vs. $2.78 Bln. last year. -EPS (Q1): $0.40 vs. $1.07 last year. -Analyst Estimates: $0.19 -Revenue (Q1): $2.67 Bln vs. $4.54 Bln last year.