Rocket Companies: Q1 Earnings Snapshot

Rocket Companies: Q1 Earnings Snapshot

DETROIT (AP) — DETROIT (AP) — Rocket Companies, Inc. (RKT) on Thursday reported a loss of $10.4 million in its first quarter.

Rocket touts ‘all-weather business model’ after acquisitions

Rocket posted a significant loss in Q1 but said its recent deals create a “super funnel” for the company and a “beautiful, end-to-end experience” for consumers.

Rocket shifts focus to integration after Q1 growth

Lower rates helped Detroit-based Rocket Companies, the parent of Rocket Mortgage, improve its originations in the first quarter of the year — a period also marked by the announcement of two major acquisitions in Redfin and Mr. Cooper.  But the second quarter is expected to look different. While the macroeconomic landscape made mortgage production more challenging in April, the company will now shift its focus from closing deals to integration. B…