KE Holdings reports Q1 adjusted EPS RMB1.42, consensus RMB0.91

Q1 adjusted EPS was 20c. Reports Q1 revenue RMB18.9B or $2.74B, consensus RMB18.55B. CEO Stanley Yongdong Peng commented, “In Q1 of 2026, we observed positive marginal changes in the real estate market. We also continued to advance efficiency-driven growth, with significant improvements in both operating quality and profitability….Looking ahead, we will continue to focus on helping consumers make higher-quality residential decisions, enhance the professional capabilities of service providers, organizational efficiency and AI-enabled capabilities, and strive to achieve higher-quality and more sustainable development.” CFO Tao Xu added, “In Q1 of 2026, the company’s operating quality improved significantly year-over-year. A series of initiatives we have undertaken around resource allocation efficiency, cost structure and unit economics translated into healthier profitability. In the first quarter, both our gross margin and adjusted operating margin reached their highest levels in the past seven quarters. In Q1, we further enhanced shareholder returns by repurchasing approximately $195M of our shares, representing a year-over-year increase of approximately 40%.”