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Dec 31, 2024
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KE Holdings Q4 2024 Earnings Report
KE Holdings reported its Q4 2024 earnings with significant revenue growth, improved operating income, but a decline in net income compared to the prior year.
Key Takeaways
In Q4 2024, KE Holdings delivered a strong 54.1% increase in revenue year-over-year, driven by growth across existing and new home transaction services and home rental services. The company achieved a positive operating income of $139 million, reversing an operating loss from the previous year. However, net income declined to $79 million due to higher tax expenses. Adjusted net income reached $184 million.
Revenue grew 54.1% YoY to $4.26 billion.
Operating income turned positive to $139 million from a prior loss.
Net income decreased 13.9% YoY to $79 million due to tax impacts.
Adjusted net income was $184 million, down 21.6% YoY.
KE Holdings
KE Holdings
KE Holdings Revenue by Segment
Revenue by Segment
Existing Home Services Revenue
CapyFin.comNew Home Services Revenue
CapyFin.comHome Renovation Revenue
CapyFin.comHome Rental Revenue
CapyFin.comEmerging Services Revenue
CapyFin.com Forward Guidance
KE Holdings remains focused on technology-driven service delivery and optimizing human-centric customer service while expanding growth across housing transaction services.
Positive Outlook
- Continued growth expected in home rental services.
- Improved monetization in new home transaction services.
- Further scaling of home renovation and furnishing segment.
- Expansion of active agents and stores on the platform.
- Positive contribution from emerging and other services.
Challenges Ahead
- Possible reduction in commission rates affecting margins.
- Macroeconomic challenges in China's property market.
- Rising fixed compensation costs for agents.
- Pressure on gross margin from service mix shifts.
- Potential continued decline in emerging service revenues.
Revenue & Expenses
Visualization of income flow from segment revenue to net income