KE Holdings Inc. (NYSE: BEKE) posted third-quarter adjusted earnings that slightly exceeded analyst forecasts, with shares climbing more than 2% in intra-day trading Monday.
The Chinese property services platform reported adjusted earnings per share of RMB1.17 ($0.16), edging past expectations of RMB1.16. Revenue rose 2.1% year over year to RMB23.1 billion ($3.2 billion), though slightly below the RMB23.58 billion consensus.
Performance across segments was mixed. Existing home transaction gross transaction value (GTV) grew 5.8% to RMB505.6 billion, while new home GTV fell 13.7% to RMB196.3 billion. Rental services were a standout, with revenue surging 45.3% to RMB5.7 billion.
Net income declined 36.1% to RMB747 million ($105 million), and adjusted net income fell 27.8% to RMB1.29 billion ($181 million).
Operationally, KE Holdings continued to expand its footprint, with active stores up 25.9% year over year to 59,012 and active agents increasing 11.4% to 471,501. Monthly active mobile users averaged 49.3 million, compared with 46.2 million in the prior-year period.
