KE Holdings Shares Add 5% On Q4 Results, Outlook

(RTTNews) - Shares of KE Holdings Inc. (BEKE), an integrated online and offline platform for housing transactions and services in China, are rising more than 5% Thursday morning after reporting better-than-expected fourth-quarter results. The company's first-quarter revenue outlook also also came in above analysts' view.

The company reported net income of RMB377.03 million or $54.67 million in the fourth quarter, compared with net loss of RMB929.68 million in the same period a year ago.

Net income per ADS was RMB0.31 or $0.04 compared with RMB0.78 last year.

Excluding one-time items, profit was RMB1.552 billion or $225 million.

Adjusted earnings per ADS were RMB1.29 or $0.18, that beat the average estimate analysts polled by Thomson-Reuters of $0.08 per share..

Quarterly revenue decreased 5.8% year-over-year to RMB16.747 billion or $2.428 billion. The consensus estimate was for $2.29 billion.

For the first quarter of 2023, the company expects total net revenues to be between RMB18.0 billion (US$2.6 billion) and RMB18.5 billion (US$2.7 billion). Analysts expect revenue of $2.03 billion for the quarter.

BEKE, currently at $18.14, has traded in the range of $9.09-$21.08 in the last 1 year.