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Income Statement (USD)
Q2 '24 | QoQ | |
---|---|---|
Revenue | 1.41B | 2.5% |
Gross Profit | 617M | 13% |
Cost of Revenue | 1.07B | 2.2% |
Operating expense | 472M | 0.4% |
Net Income | 1.3M | 92% |
EBITDA | 173M | 35.1% |
Balance Sheet (USD)
Q2 '24 | QoQ | |
---|---|---|
Total Assets | 23.6B | 6.4% |
Total Liabilities | 14.8B | 9% |
Total Equity | 8.81B | 2.4% |
Shares Outstanding | 140M | 1.9% |
Cash Flow (USD)
Q2 '24 | QoQ | |
---|---|---|
Cash from operations | -122M | 95.9% |
Cash from investing | -261M | 837.4% |
Cash from financing | 827M | 69.7% |
EPS
Financial Highlights for Rocket Companies in Q2 '24
Rocket Companies reported a revenue of 1.41B, which is a 2.5% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 617M, marking a -13% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.07B, a 2.2% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 472M, showing a 0.4% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 1.3M, showing a -92% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 173M, showing a -35.1% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Rocket Companies faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies. A decline in EBITDA signals potential operational challenges or increased costs.