NYSE$BEKE
KE Holdings Inc.-ADR · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
KE Holdings reported modest revenue growth in Q3 2025, driven by strong gains in home rental services and ongoing efficiency improvements.
KE Holdings posted $3.2B in revenue and $105M in net income in Q3 2025, supported by growth in rental services and cost controls despite pressure in home transaction segments.
- Net income reached $105M, with adjusted EPS at $0.16.
- Revenue rose to $3.2B, led by a 45.3% surge in home rental services.
- Adjusted net income was $181M, down 27.8% year-over-year.
- AI integration and cost-cutting initiatives improved operational efficiency.
Headline financials
Revenue & EPS history
KE Holdings · Revenue · Quarterly
$3.24B
Revenue by segment
KE Holdings · $13.5B total across 3 segments · Q1 2026
- Existing home transaction services$6.1B—45.2%
- New home transaction services$5.1B—37.8%
- Home renovation and furnishing$2.3B—17.0%
Forward guidance
KE Holdings plans to accelerate AI integration across core services to drive growth and operational efficiency amid a challenging real estate environment.
Tailwinds
- Strong contribution from rental and furnishing segments.
- Pilot program in Shanghai to improve transaction efficiency.
- City-level profitability in new business units.
- Continued investment in AI-driven service enhancements.
- Largest quarterly share repurchase in two years ($281M).
Headwinds
- Net income declined 36.1% year-over-year.
- New home GTV fell 13.7% year-over-year.
- Operating margin dropped to 2.6%.
- Gross margin compressed to 21.4%.
- Decrease in Lianjia store commission revenue.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
+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 |
|---|---|---|---|---|
| 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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