KE Holdings Inc. (NYSE:BEKE), a major online and offline real estate platform in China, saw its shares climb 5.13% in pre-market trading on Monday after reporting third-quarter adjusted earnings that slightly beat analyst forecasts, despite revenue coming in just below estimates.
The company reported adjusted earnings per share of RMB 1.17 ($0.16), narrowly surpassing the consensus estimate of RMB 1.16. Revenue rose 2.1% year over year to RMB 23.1 billion ($3.2 billion), falling short of expectations of RMB 23.58 billion.
KE Holdings’ quarterly performance reflected mixed trends across its divisions. The gross transaction value (GTV) of existing home sales increased 5.8% year over year to RMB 505.6 billion, while new home transactions declined 13.7% to RMB 196.3 billion.
The company’s home rental services were a bright spot, with revenue surging 45.3% year over year to RMB 5.7 billion.
Net income for the period came in at RMB 747 million ($105 million), down 36.1% from the prior year, while adjusted net income dropped 27.8% to RMB 1.29 billion ($181 million).
“In the third quarter of 2025, we continued to explore ways to improve operational efficiency and enhance customer experience through organizational optimization, process restructuring, and technological innovation,” said Stanley Yongdong Peng, Chairman and CEO of Beike.
Operational metrics remained solid. The number of active stores climbed 25.9% year over year to 59,012, and active agents rose 11.4% to 471,501. The company also reported 49.3 million average mobile monthly active users, up from 46.2 million a year earlier.
KE Holdings continued to return capital to shareholders, spending $281 million on share repurchases during the quarter — the largest quarterly buyback in two years.
Since launching its share repurchase program in September 2022, the company has bought back approximately $2.3 billion worth of shares, representing about 11.5% of its total issued shares prior to the program’s start.