Shares of the largest mortgage originator in the country, Rocket Companies (NYSE: RKT), were trading roughly 6.3% lower as of 10:33 a.m. ET today after the company reported earnings results for the second quarter of the year. Rocket reported diluted earnings per share of just $0.02 on total revenue of nearly $1.4 billion, both of which missed estimates for the quarter. Closed loan origination volume in the quarter came in at just $34.5 billion, down from $83.7 billion in the second quarter of 2021.
At this time, I'd like to welcome everyone to the Rocket Companies' second quarter 2022 earnings call. Good afternoon, everyone, and thank you for joining us for Rocket Company's earnings call covering the second quarter of 2022. With us this afternoon are Rocket Companies' CEO, Jay Farner; our CFO, Julie Booth; and our president and COO, Bob Walters.
Rocket Companies (RKT) delivered earnings and revenue surprises of -250% and 8.79%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?