Rocket Companies (RKT) shares plummeted 9% in after-hours trading on Thursday, following the release of its second-quarter earnings report. The decline extended an intraday loss of over 5%, as broader weakness in the mortgage finance sector and a disappointing forward outlook weighed heavily on investor sentiment.

The company reported adjusted earnings of $0.16 per diluted share, matching analyst expectations, but its revenue of $2.78 billion fell short of the $2.81 billion consensus estimate. More significantly, Rocket Companies issued third-quarter adjusted revenue guidance of $2.5 billion to $2.7 billion, well below the $2.84 billion to $2.91 billion that analysts had projected. The weak outlook overshadowed year-over-year growth, with net income rising to $229 million from $0.04 per share a year earlier.

The after-hours sell-off was compounded by an already challenging day for the sector. The Redfin report released earlier showed pending home sales sinking to a five-month low as mortgage rates climbed, signaling a slowdown in housing demand that directly impacts Rocket's mortgage origination business. The combination of near-term revenue headwinds and a cautious macroeconomic backdrop prompted traders to sell shares aggressively in extended trading.