Shares of Rocket Companies (RKT) surged 10.09% in pre-market trading on Friday, February 28, 2025, as the fintech platform for mortgage, real estate, and personal finance services reported impressive fourth-quarter 2024 earnings and provided an optimistic outlook for 2025.
Rocket Companies posted a 34% year-over-year increase in adjusted revenue for Q4 2024, reaching $1.2 billion, driven by robust growth in mortgage origination volume. The company's net rate lock volume surged 47% year-over-year to $24 billion, reflecting its expanding market share in the purchase and home equity loan segments.
For the full year 2024, Rocket Companies achieved a 30% year-over-year increase in adjusted revenue to $4.9 billion, fueled by innovative product offerings, strengthened wholesale partnerships, and significant growth in its home equity loan product. The company's adjusted EBITDA margin improved to 18%, up from 2% in the previous year.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.