On Thursday afternoon, Rocket also reported an adjusted net income of $84 million in Q1 2024, an improvement compared to a loss of $111 million in Q1 2023 and a loss of $6 million in Q4 2023. Rocket originated $20.2 billion in mortgages in Q1 2024, up from $17.2 billion in the previous quarter and $16.9 billion in the same quarter last year.
In a call with analysts, Krishna said that both purchase and refinance market share expanded, showing double-digit percentage growth on a year-over-year basis. He added that Rocket's analysis shows that we took that market share from large industry players and big banks in particular.
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