General World News

Rocket has a profitable quarter and a new CEO

Rocket Companies, the parent of Rocket Mortgage, returned to profit in the second quarter of 2023 after posting losses in the past three consecutive quarters.

The Detroit-headquartered lender’s GAAP net income in Q2 was $139 million, an improvement from the GAAP net loss of $411 million in 2023 Q1. Rocket posted a $33 million adjusted net income loss in the second quarter, following a $111 million loss in Q1.  

“Rocket’s performance in the second quarter demonstrates the strength of our business and our commitment to delivering superior client service through innovation,” Bill Emerson, interim CEO of Rocket Companies, details ⇒

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