The earnings call presented mixed results. While there were strong performances in new home transactions and home rental services, significant declines in net income and gross margin were noted. The expansion of the agent and store network and the diversification of revenue streams were positive, but the overall financial performance was affected by external market conditions.

Company Guidance

In the second quarter of 2025, KE Holdings Inc. reported a total Gross Transaction Value (GTV) of RMB878.7 billion, marking a 4.7% year-over-year increase. Total revenues reached RMB26 billion, up 11.3% from the previous year. Despite these gains, the company's gross margin decreased by 6 percentage points to 21.9%, and GAAP net income fell by 31.2% year-over-year to RMB1.31 billion. Non-GAAP net income also declined by 32.4% to RMB1.82 billion. The company saw significant growth in its home rental services, with revenue reaching RMB5.7 billion, an increase of 78% year-over-year, and it managed over 590,000 rental units by the end of Q2. KE Holdings continued to expand its network, with a 30% increase in active stores and a 19.5% rise in active agents in the first half of 2025. The company's existing home sales transactions rose by 26%, surpassing the market’s estimated growth of 19%, while new home orders increased by 19%, outperforming the market's 6% decline. Despite the challenges, KE Holdings remains focused on operational efficiency and technological integration to enhance productivity and maintain its competitive edge.

Strong Growth in New Home Transactions

New home orders on our platform increased by 19%, outperforming the market, which declined by 6%, both year-over-year.

Home Rental Services Surge

Revenue from our home rental services business reached a record high of RMB5.7 billion in Q2, up 78% year-over-year.

Expansion of Agent and Store Network

The number of active stores on our platform increased by 30%, and the number of active agents leaped by 19.5% in the first half of the year, both year-over-year.

Revenue Growth and Diversification

Total revenues reached RMB26 billion, up 11.3% year-over-year, with non-housing transaction services accounting for 41% of total revenues in Q2.

Increase in Existing Home Sales Proportion

Existing home sales transactions on our platform rose by 26% year-over-year, outpacing the market’s growth rate of 19%.

KE Holdings, Inc. Class A (HK:2423) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

HK:2423 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 19, 2025	2025 (Q3)	0.42 / -	0.548	―	―	―
Aug 26, 2025	2025 (Q2)	0.54 / 0.56	0.825	-31.88% (-0.26)	―	―
May 15, 2025	2025 (Q1)	0.35 / 0.43	0.424	1.18% (<+0.01)	―	―
Mar 18, 2025	2024 (Q4)	0.62 / 0.41	0.522	-21.65% (-0.11)	―	―
Nov 21, 2024	2024 (Q3)	0.53 / 0.55	0.645	-15.04% (-0.10)	―	―
Aug 12, 2024	2024 (Q2)	0.57 / 0.82	0.703	17.35% (+0.12)	―	―
May 23, 2024	2024 (Q1)	0.36 / 0.42	1.084	-60.89% (-0.66)	―	―
Mar 14, 2024	2023 (Q4)	0.49 / 0.52	0.489	6.75% (+0.03)	―	―
Nov 08, 2023	2023 (Q3)	0.28 / 0.65	0.572	12.76% (+0.07)	―	―
Aug 31, 2023	2023 (Q2)	0.50 / 0.70	-0.199	453.27% (+0.90)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

HK:2423 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 26, 2025	HK$51.05	HK$50.55	-0.98%
May 15, 2025	HK$53.15	HK$50.25	-5.46%
Mar 18, 2025	HK$62.85	HK$65.84	+4.76%
Nov 21, 2024	HK$52.42	HK$50.90	-2.90%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does KE Holdings, Inc. Class A (HK:2423) report earnings?

KE Holdings, Inc. Class A (HK:2423) is schdueled to report earning on Nov 19, 2025, After Close (Confirmed).

What is KE Holdings, Inc. Class A (HK:2423) earnings time?

KE Holdings, Inc. Class A (HK:2423) earnings time is at Nov 19, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is the P/E ratio of KE Holdings, Inc. Class A stock?

The P/E ratio of KE Holdings, Inc. Class A is N/A.

What is HK:2423 EPS forecast?

HK:2423 EPS forecast for the fiscal quarter 2025 (Q3) is 0.42.

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