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ZG - Zillow Inc News Story

$119.4 5.3  4.6%

Last Trade - 07/05/21

Large Cap
Market Cap £20.36bn
Enterprise Value £18.60bn
Revenue £2.47bn
Position in Universe 457th / 6850

BREAKINGVIEWS-China's Zillow builds hope for hard-up developers

Wed 17th March, 2021 2:28am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Yawen Chen HONG KONG, March 17 (Reuters Breakingviews) - Ke’s adjusted net profit tripled in 2020 despite Beijing’s hawkish tone on frothy prices. The $77 bln Tencent-backed home broker is worth more than its U.S. peer and Australia’s REA combined. Its success is tempting property giants to get stuck in but the model is hard to copy. Full view will be published shortly. On Twitter https://twitter.com/ywchen1 CONTEXT NEWS - China’s Ke on March 15 reported adjusted net income of 5.7 billion yuan ($877 million) for the full year of 2020, an increase of 245% year-on-year. - Mobile monthly active users rose 88% year-on-year to 48.2 million during the fourth quarter. - Shares of the New York listed company jumped 9.8% to $65.3 on March 16. - For previous columns by the author, Reuters customers can click on CHEN/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS: http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Ke Holdings announcement: https://investors.ke.com/news-and-events/news/news-details/2021/KE-Holdings-Inc.-Announces-Fourth-Quarter-and-Fiscal-Year-2020-Unaudited-Financial-Results/default.aspx BREAKINGVIEWS-Realtor IPO overcharges for Chinese housing urn:newsml:reuters.com:*:nL4N2FF06M ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Una Galani and Katrina Hamlin) ((yawen.chen@thomsonreuters.com; Reuters Messaging: yawen.chen.thomsonreuters.com@reuters.net))
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