Welcome to our dedicated page for Rocket Companies news (Ticker: $RKT), a resource for investors and traders seeking the latest updates and insights on Rocket Companies stock.
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Rocket Companies, a Detroit-based fintech platform, appointed Shawn Malhotra as Chief Technology Officer. Malhotra, with extensive experience at tech giants like Thomson Reuters, Intel, and Qualcomm, will lead AI initiatives to streamline processes and enhance homeownership.
Rocket Companies, Inc. reported strong first quarter 2024 results with total revenue of $1.4 billion and adjusted revenue exceeding expectations. The company achieved its highest profitability in two years, with net income of $291 million. Rocket Mortgage saw a 19% increase in closed loan origination volume and a gain on sale margin of 3.11%. The company's total liquidity was $8.9 billion, including cash and undrawn lines of credit. Rocket continues to innovate with AI-driven technologies like Rocket Logic, achieving significant time savings and client enhancements.
