NYSE$BEKE
KE Holdings Inc.-ADR · Q2 2026 earnings
Q2 2026 earnings · · Investor relations
Briefing
KE Holdings reported Q2 2026 results with revenue declining 5.7% year-over-year to RMB24.5 billion while net income more than doubled.
KE Holdings Inc. announced unaudited financial results for the second quarter ended June 30, 2026, showing resilience in its core transaction services amid a recovering market. Total GTV rose 6.3% to RMB933.8 billion, driven by existing home transactions, while profitability improved significantly due to cost optimizations and margin expansion across segments. Gross margin expanded 6.7 percentage points to 28.6%, and adjusted net income grew 74.9% to RMB3.185 billion.
- Net revenues of RMB24.5 billion, down 5.7% YoY, with existing and new home transaction services showing revenue growth.
- GAAP net income RMB2.624 billion, up 100.8% YoY; adjusted net income RMB3.185 billion, up 74.9% YoY.
- GTV RMB933.8 billion (+6.3% YoY), with existing home GTV RMB629.9 billion (+8.0% YoY).
- Gross margin 28.6% (+6.7 pp YoY); active stores 57,803 and active agents 454,571 at quarter end.
Headline financials
Revenue & EPS history
KE Holdings · Revenue · Quarterly
¥3.65B
Revenue by segment
KE Holdings · ¥24.4B total across 5 segments · Q2 2026
- New Home Transaction Services¥8.9B—36.4%
- Existing Home Transaction Services¥7B—28.6%
- Home Rental Services¥4.8B—19.6%
- Home Renovation and Furnishing¥3.2B—13.1%
- Emerging and Other Services¥546M—2.2%
Forward guidance
Company focuses on quality growth, operating efficiency, and strategic transformation; no specific numerical guidance provided in release.
Tailwinds
- Margin expansion and cost optimization driving profitability
- GTV recovery in core segments
- Share repurchases of ~US$250 million in Q2
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports
+0.4%
Avg return
Earnings day
-2.1%
Avg return
5 days after
-1.5%
Avg return
30 days after
40%
8 / 20 earnings
Positive
+18.1%
Q2 2023
Best reaction
-18.0%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -3.5% | -12.5% | -20.4% | |
| Q3 2025 | +3.4% | +8.0% | +9.1% | |
| Q4 2024 | -7.3% | -17.7% | -24.2% | |
| Q1 2024 | -11.7% | -2.3% | +4.6% | |
| Q4 2023 | -2.4% | -1.5% | -8.5% | |
| Q3 2023 | -1.2% | +0.3% | +2.4% | |
| Q2 2023 | +18.1% | -2.0% | +2.4% | |
| Q1 2023 | -9.1% | -5.9% | +0.3% | |
| Q4 2022 | +10.3% | +9.4% | -0.9% | |
| Q3 2022 | +10.5% | +8.7% | -7.6% | |
| Q2 2022 | +10.7% | +15.8% | +37.0% | |
| Q1 2022 | +10.3% | -4.4% | +9.5% | |
| Q4 2021 | -18.0% | -32.9% | +13.4% | |
| Q3 2021 | +9.8% | +25.4% | +22.9% | |
| Q2 2021 | -6.2% | -15.6% | -9.4% | |
| Q1 2021 | -0.8% | +3.5% | -1.0% | |
| Q4 2019 | -4.7% | -4.9% | -14.6% | |
| Q4 2018 | -4.7% | -4.9% | -14.6% | |
| Q4 2020 | +10.8% | +8.5% | -16.2% | |
| Q3 2020 | -6.8% | -16.2% | -13.2% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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