BEKE - KE Holdings rockets 14% post Q1 results despite gross margin guidance takes a dip
KE Holdings (BEKE +14.5%) rallies as Q1 shows net revenues beating estimates by $230M to $1.98B. Gross transaction value was $92.4B, a decrease of 45.2% year-over-year. GTV of existing home transactions was $59B, a decrease of 44.5% year-over-year. Number of stores was 45,777 as of March 31, 2022, a 6% increase from one year ago. Number of active stores was 42,994 as of March 31, 2022, a 4.3% decrease from one year ago. Number of agents was 427,379 as of March 31, 2022, a 19.1% decrease from one year ago. Number of active agents was 381,799 as of March 31, 2022, a 20.3% decrease from one year ago. Mobile monthly active users averaged 39.7M compared to 48.5M last year. Gross margin was 17.7% in the first quarter of 2022, compared to 23.3% in the same period of 2021. As of March 31, 2022, the combined balance of the Co.’s cash equivalents, restricted cash and
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KE Holdings rockets 14% post Q1 results, despite gross margin, guidance takes a dip