NYSE$BEKE
KE Holdings Inc.-ADR · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
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.
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.
Headline financials
Revenue & EPS history
KE Holdings · Revenue · Quarterly
$4.26B
Revenue by segment
KE Holdings · $13.5B total across 3 segments · Q1 2026
- Existing home transaction services$6.1B—45.2%
- New home transaction services$5.1B—37.8%
- Home renovation and furnishing$2.3B—17.0%
Forward guidance
KE Holdings remains focused on technology-driven service delivery and optimizing human-centric customer service while expanding growth across housing transaction services.
Tailwinds
- 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.
Headwinds
- 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.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2024
+0.4%
Avg return
Earnings day
-2.1%
Avg return
5 days after
-1.5%
Avg return
30 days after
40%
8 / 20 earnings
Positive
+18.1%
Q2 2023
Best reaction
-18.0%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.5% | -12.5% | -20.4% | |
| Q3 2025 | +3.4% | +8.0% | +9.1% | |
| Q4 2024 | -7.3% | -17.7% | -24.2% | |
| Q1 2024 | -11.7% | -2.3% | +4.6% | |
| Q4 2023 | -2.4% | -1.5% | -8.5% | |
| Q3 2023 | -1.2% | +0.3% | +2.4% | |
| Q2 2023 | +18.1% | -2.0% | +2.4% | |
| Q1 2023 | -9.1% | -5.9% | +0.3% | |
| Q4 2022 | +10.3% | +9.4% | -0.9% | |
| Q3 2022 | +10.5% | +8.7% | -7.6% | |
| Q2 2022 | +10.7% | +15.8% | +37.0% | |
| Q1 2022 | +10.3% | -4.4% | +9.5% | |
| Q4 2021 | -18.0% | -32.9% | +13.4% | |
| Q3 2021 | +9.8% | +25.4% | +22.9% | |
| Q2 2021 | -6.2% | -15.6% | -9.4% | |
| Q1 2021 | -0.8% | +3.5% | -1.0% | |
| Q4 2019 | -4.7% | -4.9% | -14.6% | |
| Q4 2018 | -4.7% | -4.9% | -14.6% | |
| Q4 2020 | +10.8% | +8.5% | -16.2% | |
| Q3 2020 | -6.8% | -16.2% | -13.2% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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