Rocket Companies (NYSE:RKT) reported its Q1 earnings results on Thursday, with EPS coming in at ($0.16), missing the Street estimate of ($0.09). Revenue was $882 million, beating the Street estimate of $775.14 million.

Q1 results and Q2 guidance continue to reflect the pressure higher interest rates are having in the housing and mortgage market, while management looks to balance expense control against investing in the platform so that the company can take share when the mortgage markets return.

For Q2/23, the company expects adjusted net revenue to be in the range of $850 million - $1 billion, compared to the Street estimate of $1.04 billion.