KE Holdings First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

KE Holdings (NYSE:BEKE) First Quarter 2024 Results

Key Financial Results

• Revenue: CN¥16.4b (down 19% from 1Q 2023).
• Net income: CN¥431.8m (down 84% from 1Q 2023).
• Profit margin: 2.6% (down from 14% in 1Q 2023).
• EPS: CN¥0.38 (down from CN¥2.32 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

KE Holdings Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 47%.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in the US.

Performance of the American Real Estate industry.

The company's shares are down 14% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for KE Holdings that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.