Amid the most challenging mortgage market in decades, Rocket Companies, the parent of Rocket Mortgage, remained profitable in the third quarter of 2023, showing higher margins in the direct-to-consumer and wholesale channels.
This was the first earnings delivered by Rocket’s new CEO, Varun Krishna, who focused his conversation with analysts on the potential of artificial intelligence (AI) and other technologies to transform the business. His speech is aligned with the company’s strategy to become a fintech.
The Detroit-headquartered lender’s GAAP net income in Q3 was $115 million, lower than the $139 million in Q2 2023 but better details ⇒
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