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To apply for a Home loan Miami, the first thing we recommend is to investigate several options, since if you apply for one that does not complete your requirement, it can become a long-term financial problem.You can approach an executive to guide you on the requirements that you must cover and explain in detail what your mortgage loans consist of and which one is the best for you according to your ability to pay and needs.Some information that you should ask for when you report on a Home loan Miami are: - Loan delivery method  - Ordinary interest rate - CAT and the assumptions assumed in its calculation  - Applicable fees and expenses are borne by the borrower   - If they offer any type of insurance (life, unemployment or damage to real estate)The requirements to apply for a bank loan vary depending on the financial institution.However, there are four essential requirements that you will have to meet: - Be at least 18 years old or maximum of 65 years old - Have income.The calculation of the loan amount is based on your monthly net income and the value of the home.The bank requests a minimum of 10 to 20 percent to cover the down payment of the property, administrative expenses, opening of the loan, appraisal, and deed expenses.- Maintain a good credit history.If you have complied with the loan payments you have requested before and are up to date with your credit cards history.Once you have decided which option suits you, apply for your credit, collect the required documents, and wait for the credit proposal from the financial institution.For the financial institution to respect the proposed conditions of the mortgage loan, you must document:Your identityThe veracity and authenticity of the data you providedYour credit capacity, in accordance with sound market practices and conditionsCarrying out an appraisal which is carried out by an authorized appraiser and complying with the other formalities required by law.The validity period of the proposal is 20 calendar days, counted from the day you receive it.
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It is a primary concern of business organizations to focus on net income because it is a logical solution to determine the financial health of a company’s operations.But an income statement merely states a relationship between revenue and expense.By no means, it shows how much cash a business has in hand to meet the day.
‘Fluid situation’ with USA not overly worrying CEO, who says company will comply with any new rules Alibaba has reported another rampaging quarter in which it recorded US$21.76bn revenue and net income of $5.59bn, a 34 percent and 28 percent jump respectively, but while its cloud unit also posted strong growth the company can’t yet say when it will turn a profit.…
Lyft will reveal its second-quarter financial results on Wednesday afternoon.  Unlike Uber, which reported last week, Lyft didn't have a delivery arm to lean on as the coronavirus decimated rides requests.  Analysts expect the company to report its lowest revenues in more than three years.  Visit Business Insider's homepage for more stories. Lyft will report its second-quarter results on Wednesday afternoon, providing the first comprehensive look at just how badly the coronavirus pandemic hurt the ride-hailing company's business from April through June. Analysts polled by Bloomberg expect the company to post its lowest revenue in more than three years. Here are the numbers: Revenue: $334 million, a 65% decrease from the first quarter. Net income: $301 million, a 10% decrease from the first quarter. EPS: $-0.99, a 10% decrease from the first quarter. The smaller cash burn is likely thanks in part to massive cost cutting efforts by Lyft this spring, including a 17% trim to its workforce resulting in about 1,000 layoffs. "We expect Lyft to execute well on the cost discipline side," Doug Anmuth, an analyst at JPMorgan, said in a note to clients. Lyft doesn't have a food-delivery arm to lean on, unlike Uber, which for the first time reported revenues for its Eats business that topped its core ride-hailing unit last week. Plus, Lyft only operates in North America, so the continued spread of COVID-19 in the United States has an outsized effect on its business.  Lyft said in June — its most recent update — that some US markets were beginning to show meaningful increases after bottoming-out in March. Austin, for example, was up 73% in May over April. But the US' pandemic hasn't slowed much since that update, and data from Chase credit card suggests that the initial uptick seen by Lyft was short lived. "We believe that after weeks of rideshare volume improvements into early June, recovery has slowed, stalled, or reversed in some cities," JPMorgan analysts wrote earlier in August. And like Uber, Lyft faces significant headwinds in California where the two companies are sparring with state regulators and labor activists about their drivers' classification as contractors versus employees. Shares of Lyft are down nearly 30% since the beginning of 2020.Join the conversation about this story » NOW WATCH: Here's what it's like to travel during the coronavirus outbreak
Amazon saved nearly $2.6 billion in net profits last quarter by cutting its marketing spend and through a previously announced estimate change for its server costs. The change is noteworthy given how Amazon's net profit doubled to a record $2.6 billion last quarter, and shows how the company boosted its profitability in the face of a pandemic. Analysts say the growth in Amazon's high-margin businesses also helped offset the increased costs during the quarter, such as the $4 billion COVID-related expenses. Visit Business Insider's homepage for more stories. Amazon surprised many investors last week when it doubled its second-quarter profits to a record $5.2 billion — nearly seven times more than Street expectations. But Amazon's quarterly filings show a large portion of its profit gains were led by a change in accounting estimates and a marketing cutback, showing how the company was able to boost its bottom line in the face of a pandemic. Growth in its higher-margin businesses, such as its cloud and advertising units, helped too, as its retail profitability dropped during the quarter. According to Amazon's quarterly filings, it added $534 million in net income last quarter due to a previously announced change in the way it accounts for its servers' lifetime value. The extended "useful life" of its servers, a legitimate change that speaks to Amazon's infrastructure efficiency, helped spread out the depreciation cost by another year, resulting in a bump in profits. The bigger impact, however, came from a reduction in marketing expenses. Amazon's CFO Brian Olsavsky said in a call with analysts that the company cut its marketing spend by "about a third" in the quarter to reduce the heavy customer demand pressuring its supply chain during COVID-19. That means Amazon spent roughly $2.1 billion less on marketing than it normally would have during the quarter. Its marketing expense grew just 1% to $4.3 billion in the three months ending in June, a sharp decrease from the 37% growth seen all of last year. Combining those two figures ($534 million and $2.1 billion) results in roughly $2.6 billion in savings — almost exactly the same amount Amazon reported in its year-over-year profit gains for the quarter. Daniel Aobdia, an accounting professor at Northwestern University and a former fellow at the Public Company Accounting Oversight Board, told Business Insider that those two factors were key to Amazon's record profits. Given Amazon spent more than $4 billion on COVID-related initiatives, those changes helped offset the loss. The bigger question, he said, is how to make future profit estimates, since Amazon will most likely have to ramp up its marketing spend once COVID-driven demand cools down, possibly making last quarter's profit gains an outlier. "One might wonder how much the increase in earnings will be sustained over the long run if marketing expenditures need to revert back to traditional levels," he said. Amazon's spokesperson declined to comment. High-margin businesses Aobdia said Amazon still deserves a lot of credit for being able to absorb the cost increases it saw in shipping and fulfilling products during the pandemic. Amazon said it plans to spend another $2 billion on COVID-related expenses this quarter. During last week's earnings call, Olsavsky credited the huge increase in sales, which grew 40% to $88.9 billion, and a mix-shift to more profitable items being sold for the record profits. Amazon's international business also turned a rare profit at $345 million. R.J. Hottovy, an analyst at Morningstar, said because of the massive $4 billion COVID-related expenses during the quarter, Amazon had to make up profits from other sources as well. That primarily came from Amazon's higher-margin units, including its cloud, advertising, and third-party seller marketplace, he said. While Amazon doesn't give a profit breakdown for its advertising and marketplace businesses, each unit's quarterly sales grew by 41% and 52%, respectively. The Amazon Web Services cloud segment's sales growth slowed to 29%, but its profit margins expanded by 6 percentage points. "The key takeaway from this quarter was that Amazon needs these higher-margin businesses to drive profitability going forward," Hottovy said. All this is particularly important because Amazon's retail efficiency appears to have worsened during the quarter, according to Anup Srivastava, an accounting professor at University of Calgary.  Amazon's gross margins decreased by 2 percentage points last quarter, while its fulfillment costs also grew as a percentage of total sales. North America retail margins slightly dipped as well, which Amazon blamed for the "increased shipping and fulfillment costs due in part to COVID-19" in its filings. "I don't see any significant improvement in retail profitability," Srivastava said. Still, the fact that Amazon saw significant sales growth without doing more marketing should pay off in the future, said Colin Sebastian, an analyst at R.W. Baird. The customers Amazon acquired very cheaply during the quarter are likely going to continue shopping on its site, adding to its growth and margins ahead. But even with that, it's hard to see Amazon maintaining the huge profit levels it saw from the second quarter, he said. "I don't think the Street is expecting those Q2 margins to continue in the near term," he said.SEE ALSO: Amazon quietly launched a new website for its big ad conference, which returns for its second straight year amid the company's surging digital ad sales Join the conversation about this story » NOW WATCH: What it takes to be a PGA Tour caddie
Uber on Thursday reported a wider loss in the second quarter than Wall Street expected. The company's main rides business was hit hard by the coronavirus pandemic. To help make up the difference, it leaned on food delivery — which for the first time generated more revenue than its ride-hailing business. Shares fell as much as 5% in after-hours trading shortly after Uber released its earnings report. Visit Business Insider's homepage for more stories. Uber on Thursday reported second-quarter revenue that topped Wall Street's expectations for the three-month period that bore the brunt of the coronavirus pandemic, but its overall losses exceeded expectations. For the first time, food-delivery revenue topped ride-hailing revenue and all other segments, as the company leaned heavily on its Uber Eats business to make up for the coronavirus-related downturn. Here are the important numbers: Earnings per share: $1.02 loss, versus $0.76 loss expected Revenue: $2.24 billion, versus $1.82 billion expected Net income: $1.78 billion loss, versus $1.27 billion loss expected Gross bookings, a measure of total revenue from rides and food orders before paying drivers and couriers, declined 35% from the previous year, to $10.2 billion, during a period marked by a significant downturn in ride requests. Shares of Uber fell as much as 5% in after-hours trading following the release. They had risen about 4% in regular trading on Thursday. "We are fortunate to have both a global footprint and such a natural hedge across our two core segments," CEO Dara Khosrowshahi said in a press release. "As some people stay closer to home, more people are ordering from Uber Eats than ever before." During the quarter, Uber announced a $2.65 billion deal to acquire the competing service Postmates and closed a deal for Cornershop, a grocery-delivery service based in Chile, as it ramped up delivery efforts. Uber has also slashed thousands of jobs this year in a bid to cut overhead costs. Freight revenue also increased by 27%, to $211 million, as Uber's freight brokerage scaled up. Advanced Technologies Group, which is developing self-driving cars, for the first time reported revenue totaling $25 million. Uber executives on a conference call with investors on Thursday afternoon are expected to shed more light on how the company is navigating the pandemic and the demand trends it's seeing as outbreaks wane in many countries.Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button
Amazon doubled its profit to a record $5.2 billion in the second quarter. Amazon CFO Brian Olsavsky shared a few reasons that may have contributed to the increased profits during his call with analysts on Thursday. Amazon saw huge lockdown-driven sales, but also scaled back its marketing and video production spend, while improving the profitability of its international business. Visit Business Insider's homepage for more stories. Amazon surprised investors on Thursday when it reported record profits for the second quarter, which exceeded Wall Street expectations by almost 600%. The $5.2 billion in net profit, which doubled from last year, was all the more impressive because Amazon had previously warned it would spend all of the $4 billion it was projected to make in quarterly profits on COVID-related responses, including wage increases for warehouse workers and the development of an in-house testing lab. Calling it a "highly unusual quarter," Amazon CFO Brian Olsavsky shared a few factors that may have contributed to the improved bottom line during his call with Wall Street analysts on Thursday, according to a transcript provided by Sentieo: Lockdown driven sales: The significant increase in customer demand that started in early March remained high throughout the quarter, Olsavsky said. As a result, Amazon reported a whopping 40% sales growth to $88.9 billion for the quarter. He said Prime members led the growth, spending more and buying more frequently on Amazon. Online groceries tripled in sales, he said. Sold more profitable products: Due to the pandemic, Amazon had expected the bulk of its sales to come from essential products, like face masks, which have slim margins. But the mix of products sold started shifting in early May to include more non-essential — and profitable — products, Olsavsky said. At the same time, demand remained "super high," leading to higher-than-expected profits. Scaled-back spending: Amazon cut its marketing spend by a third during the quarter to reduce the demand it was seeing, Olsavsky said. It also slowed its investments in its Studios business, delaying productions of some shows to protect the actors and filming crew amid COVID-19. In fact, Amazon's sales and marketing spend was roughly flat from last year at $4.3 billion, while its total operating expense of $30 billion grew just 29%, much slower than the 40% sales growth rate. International growth: Amazon's international business, whose growth rate had slowed to the lower teen numbers in recent years, bounced back to 38% in the second quarter for $22.7 billion in revenue. Most important, it eked out $345 million in operating profits, recording a rare profit for the first time in years. Olsavsky said that's a "great sign," and credited the rate of Prime adoption in some of the more "established" overseas markets, like the UK, Germany, and Japan. Higher-margin businesses: Amazon's higher margin businesses, like its cloud and advertising units, continued to show growth. Although Amazon's cloud business reported its slowest growth ever, at 29%, it still had a profit of $3.3 billion on $10.8 billion of revenue. Advertising growth remained over 40%, while Amazon's third-party seller service, which includes the high margin fees it collects for providing shipping and storage services, also grew 53% (it's hovered around a 30% quarterly growth rate in the previous year). SEE ALSO: America wanted its first unfiltered look at Jeff Bezos, the world's richest person. The Amazon CEO used caution and skill to stay out of the spotlight. Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button
Illustration by Alex Castro / The Verge Google parent company Alphabet warned in last quarter that it was expecting to see the impact of coronavirus in the second quarter results, and it did: the company saw its first revenue decline in its history. But it managed to beat Wall Street’s revenue expectations. Total revenue for the quarter was $38.3 billion, versus the $37.4 billion expected, but that marks a 2 percent decline from the second quarter of 2019. Net income dropped to $6.9 billion, from $9.9 billion a year ago,. Revenue for Search was $21.3 billion, down from $23.6 billion. “We continue to navigate through a difficult global environment,” CFO Ruth Porat said in a statement announcing the earnings. One bright spot was YouTube, where advertising revenue rose to $3.81... Continue reading…
Apple, Alphabet, Amazon, and Facebook all reported their second-quarter earnings on Thursday. These four, along with Microsoft, are the five most-valuable publicly traded companies on the S&P 500. These earnings reports come one day after the CEOs of Apple, Alphabet, Amazon, and Facebook testified before the House Judiciary's antitrust subcommittee over possible anticompetitive behavior. All four tech companies reported better-than-expected earnings. Visit Business Insider's homepage for more stories. Facebook Facebook beat Wall Street estimates for daily active users and reported double-digit revenue growth year-over-year, sending its stock soaring 8% in after-hours trading. Here are the key numbers, as well as Wall Street estimates, via Bloomberg: Revenue: $18.69 billion, up 11% year-on-year ($17.31 billion expected) Earnings Per Share (EPS) GAAP: $1.80 ($1.39 expected) Daily Active Facebook Users: 1.79 billion, up 12% year-on-year (1.74 billion expected) Monthly Active Facebook Users: 2.7 billion, up 12% year-on-year (2.63 billion expected) —Rob Price Amazon Amazon blew past Wall Street estimates, with $88.9 billion in sales last quarter, but fell short on growth with Amazon Web Services. Amazon stock was up by as much as 6% in after-hours trading. EPS (GAAP): $10.30 versus expectations of $1.50 per share Revenue: $88.9 billion versus expectations of $81.24 billion AWS: $10.81 billion versus expectations of $11.01 billion —Eugene Kim Apple Apple exceeded Wall Street estimates for its fiscal third quarter. Apple's stock was up 5% and passed $400 per share for the first time in after-hours trading. Q3 revenue: $59.7 billion. Analysts were expecting $52.3 billion. In the same quarter one year ago, Apple posted revenue of $53.8 billion. Q3 earnings per share (GAAP): $2.58. Analysts were looking for $2.07. In its third-quarter of 2019, Apple earned $2.18 a share. iPhone revenue: $26.4 billion, up 1.7% from $25.9 billion in its fiscal third-quarter 2019. Services revenue: $13.1 billion. Apple's revenue segment generated $11.5 billion in the same period last year. Wearables revenue: $6.4 billion. Apple posted $5.5 billion in revenue for its wearables business in last year's third quarter. —Lisa Eadicicco Alphabet Google parent company Alphabet reported revenue of $31.6 billion minus traffic acquisition costs, a decline of roughly 2% year-over-year. This is the first time in its trading history that it reported an annual decline in revenue, first reported by CNBC. Still, it beat Wall Street estimates. Revenue: $31.6 billion (minus traffic acquisition costs), vs expectation of $30.5 billion. EPS (GAAP): $10.13, vs expectation of $8.27. Net Income: $6.96 billion. Google Cloud revenue: $3.01 billion. YouTube ad revenue: $3.81 billion. —Hugh LangleySEE ALSO: Newly released Steve Jobs emails, included in Congress' antitrust investigation, show how ruthless the Apple founder could be Join the conversation about this story » NOW WATCH: A cleaning expert reveals her 3-step method for cleaning your entire home quickly
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Twitter shares spiked about 6% in pre-market trading on Thursday after the social network reported record growth in daily active users in the second quarter. The company added 20 million users in the period, fueling a 34% year-on-year increase in its userbase to 186 million. However, its earnings fell short of Wall Street forecasts as revenue fell 19%, and it posted a net loss of $1.2 billion. CEO Jack Dorsey also described last week's hack — which saw celebrities like Elon Musk and Bill Gates have their accounts compromised — as "a very public and disappointing security issue." Visit Business Insider's homepage for more stories. Twitter stock jumped about 6% in pre-market trading after the social-media group revealed a record increase in users in the second quarter. However, its revenue and profits fell short of the consensus forecasts of analysts polled by Bloomberg. Here are the key numbers: Revenue: $683 million versus $705 million estimated. Operating income: $124 million loss versus $49.2 million loss estimated. EPS: -$1.56 versus -$0.16 estimated. Twitter's revenues fell 19% as advertising sales tumbled 23% due to the coronavirus pandemic. Combined with higher costs, that meant the company posted a net loss of $1.2 billion — a sharp swing from the $1.1 billion in net income it made in the second quarter of 2019. Read More: Warren Buffett isn't warning about sky-high stocks because he 'doesn't want to make people mad,' veteran investor Bill Smead says More positively, Twitter grew its average daily active user base by 34% year-on-year to 186 million, as it added 20 million users in the three months to June 30. The robust growth followed a 24% increase in its users to 166 million in the first quarter. Twitter's bosses attributed the latest increase to people signing up to join a global conversation about current events, as well as product improvements. "The elevated usage of our service presents a tremendous opportunity to serve the public conversation and to be where even more people go to see what's happening," CEO Jack Dorsey said in his quarterly shareholder letter. Read More: A Wall Street expert details the hurdles that must be cleared before a bitcoin ETF is approved — and explains why other investing substitutes for the crypto fall short Dorsey also addressed the hacking of several high-profile Twitter accounts including Joe Biden, Elon Musk, and Warren Buffett last week. "Twitter suffered a very public and disappointing security issue," he said in the letter. The company "moved quickly to address what happened" and has improved its resiliency to social-engineering attempts, rolled out additional safeguards to its systems, and continues to cooperate with law enforcement as they investigate the matter, he added.Join the conversation about this story » NOW WATCH: Pathologists debunk 13 coronavirus myths
Tesla stock surged as much as 5.8% in pre-market trading on Wednesday after the company made a profit for the fourth quarter in a row. Elon Musk's electric-car company reported $104 million in net income, a big improvement from its $408 million loss in the second quarter of 2019. Tesla is now eligible for inclusion in the S&P 500, which promises to expand its shareholder base. Musk also announced that Tesla will build its fourth US factory in Austin, Texas. Visit Business Insider's homepage for more stories. Shares in Tesla jumped as much as 5.8% in pre-market trading after the group posted its fourth consecutive quarterly profit for the first time ever. Elon Musk's electric-car company reported net income of $104 million for the three months to June 30, a sharp swing from its $408 million net loss in the second quarter of 2019. Read More: Warren Buffett isn't warning about sky-high stocks because he 'doesn't want to make people mad,' veteran investor Bill Smead says Its automotive revenues fell 4% year-on-year to below $5.2 billion as the coronavirus pandemic weighed on car sales. However, that was more than offset by $428 million in revenue from selling regulatory credits, up from $111 million in the same period last year. Tesla's four profitable quarters in a row make it eligible for inclusion in the S&P 500. Joining the benchmark index promises to expand its shareholder base given the large number of tracker funds and institutional investors that seek exposure to it. Read More: A Wall Street expert details the hurdles that must be cleared before a bitcoin ETF is approved — and explains why other investing substitutes for the crypto fall short The group's stock price has more than tripled this year, and traded close to its all-time high as of Wednesday's close. Its market capitalization is approaching $300 billion, dwarfing the combined value of the "big three" US automakers — GM, Ford, Chrysler — and comfortably beating both Volkswagen and Toyota, the biggest automakers in Europe and Asia respectively. Musk also announced on Wednesday that his company will build its fourth US factory near Austin, Texas. It will manufacture Cybertrucks and Tesla Semis in the facility, as well as Model Y and Model 3 cars for East Coast customers, he added.Join the conversation about this story » NOW WATCH: Why thoroughbred horse semen is the world's most expensive liquid
Execs peg Big Blue's big blues to global pandemic recovery IBM's net income felt the full brunt of the economic downturn last quarter, falling 46 per cent on the year-ago period, though impressing Wall Street.…
Quicken Loans' parent company is readying its initial public offering and will likely price before the end of July.  In terms of valuation, its closest comparable multiples could be in the payments space, not other mortgage companies or financial institutions. But because its business is more cyclical than payments, it'll likely have a slight discount to traditional payments giants.  The company, citing its quiet period, declined to comment. Visit Business Insider's homepage for more stories. After 35 years as a private firm, the parent company of mortgage giant Quicken Loans is set for a public-market debut. Rocket Companies filed paperwork earlier this month to list on the New York Stock Exchange and its initial public offering will likely price before the end of July, a person with knowledge of the process told Business Insider. The company started working on an IPO around the winter holidays of 2019, said a second source familiar with the plans. Billionaire founder Dan Gilbert, who had a stroke in May 2019, was looking to start cashing out, and an IPO made more sense than looking to unload via M&A given the company's size. Its S-1 says it was the largest retail mortgage originator in the US in 2019, citing Inside Mortgage Finance. But Rocket put its plans on hold as the coronavirus pandemic threw markets and consumer behavior into disarray in the spring. The pause was short-lived, however. Emergency interest-rate cuts by the Federal Reserve prompted a surge in mortgage refinancing activity – great for Rocket's bottom line – and recent weeks have seen a jump in equity issuance and more and more companies going public. From March through May, only 13 IPOs priced, per Renaissance Capital research, but June saw a rebound, with 28 companies pricing.  Read more: Equity is the new debt. Here's what prompted the sudden shift. Now, Rocket is readying an IPO that could value Rocket in the tens of billions of dollars. A spokesperson for the company declined to comment on IPO plans, citing a regulatory quiet period.   While there are a number of mortgage, lending, and bank stocks, ranging from small companies like Impac Mortgage Holdings to Flagstar Bank to digital lender Ally, the closest comparable trading multiples may be in the payments space. US government entities like Fannie Mae and Freddie Mac buy the vast majority of the $145 billion in loans Rocket originated last year. Those groups are looking to do even more business to help stabilize markets during the pandemic. Since Rocket doesn't keep the loans on its balance sheet, it has less risk than other financial institutions and the business becomes more of a fee play, like payments.  Read more: POWER PLAYERS: Meet the 8 PayPal execs shaping the payment giant's future as its stock rockets to record highs and e-commerce surges But Rocket's a more cyclical business than payments, leading to a likely discount in its multiple when it comes time to price its shares – high teens or 20x earnings, as opposed to 25x earnings, said the first source. Banks, by comparison, have price-to-earnings ratios that are typically in the high single digits to 10x.  Payments-focused companies like Visa and Mastercard tend to grow steadily over time, whereas Rocket may grow a lot in years like this one, where there's a flurry of refinancing activity, but then see slower years.  The company's filing to go public alludes to its long-term focus: CEO Jay Farner kicked off the prospectus with the line, "Numbers and money follow, they do not lead."  Fintech investors will watch the IPO closely to see what type of price tag public investors put on the company — and whether the valuation hems closer to "fin" or "tech."  Read more: An IPO for mortgage giant Quicken Loans could make or break fintech valuations. 5 VC investors lay out which startups may get the biggest boost. Unlike many other tech companies coming to the public markets, Rocket is profitable, per numbers disclosed last week. But it is significantly controlled by Gilbert, who will control 79% of the voting power post-IPO and who sits on the board, along with his wife. Gilbert hasn't been involved in the company's day-to-day operations for years; Jay Farner has been CEO since 2017. His various companies do business with one another, from parking to naming rights.  "By and large people feel comfortable; it's definitely not a positive but it's definitely less of a negative" than other companies with significant concentration of control in founders' hands, like WeWork last year, said the first source. Rocket's net income jumped 46% last year, to $892 million, on $5.1 billion in revenue.  The company is working with Goldman Sachs, Morgan Stanley, Credit Suisse, JPMorgan, RBC, and boutique bank Siebert Williams Shank on the IPO.  Read more:  Shift4 Payments just surged 46% in its public-market debut. Its CEO walked us through the 300-meeting virtual road show it took to launch the IPO.SEE ALSO: An IPO for mortgage giant Quicken Loans could make or break fintech valuations. 5 VC investors lay out which startups may get the biggest boost. SEE ALSO: A 179-year-old data shop just raised $1.7 billion in an IPO. Dun & Bradstreet's president walked us through its quick return to public markets and why the company's in high demand. SEE ALSO: Ally's head of strategy told us how one of the first digital banks picks fintechs to partner with, invest in, and buy Join the conversation about this story » NOW WATCH: How waste is dealt with on the world's largest cruise ship
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