NewzDETROIT (AP) — DETROIT (AP) — Rocket Companies, Inc. (RKT) on Thursday reported second-quarter earnings of $230 million. On a per-share basis, the Detroit-based company said it had profit of 8 cents.
Earnings, adjusted for one-time gains and costs, came to 16 cents per share. The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 16 cents per share.
The company posted revenue of $2.78 billion in the period. Its adjusted revenue was $2.76 billion, missing Street forecasts. Five analysts surveyed by Zacks expected $2.82 billion.
For the current quarter ending in September, Rocket Companies said it expects revenue in the range of $2.5 billion to $2.7 billion. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RKT at https://www.zacks.com/ap/RKT Source
(ARLO) on Thursday reported second-quarter profit of $3 million. On a per-share basis, the Carlsbad, California-based company said it had net income of 3 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 28 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share. The maker of smart connected devices posted revenue of $155.9 million in the period, which also beat Street forecasts.
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