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Investing.com -- KE Holdings Inc., an integrated platform for housing transactions and services, reported its second quarter 2025 results on Tuesday.
The company posted revenue of RMB26.0 billion ($3.6 billion), an increase of 11.3% YoY, slightly below analyst estimates of RMB26.19 billion. Adjusted earnings per share came in at $1.55, exceeding the consensus estimate of $1.53.
The company’s gross transaction value (GTV) reached RMB878.7 billion ($122.7 billion), up 4.7% YoY, with new home transactions showing stronger growth at 8.5% compared to existing home transactions at 2.2%. Despite revenue growth, net income declined 31.2% YoY to RMB1,307 million ($182 million), while adjusted net income fell 32.4% to RMB1,821 million ($254 million). The stock was nearly unchanged following the results, slipping just 0.1%.
"In the second quarter of 2025, our business maintained its high-quality development. At the same time, we recognized significant shifts in consumer demand, driven by the evolving trends in China’s real estate sector," said Mr. Stanley Yongdong Peng, Chairman and CEO of Beike.
The company’s operating margin decreased to 4.1% from 8.6% in the same period last year, primarily due to lower gross profit margin, which was partially offset by improved operating leverage. Net revenues from non-housing transaction services accounted for a record high of 41% of total net revenues, highlighting diversified growth drivers.
KE Holdings also announced an expansion of its share repurchase program, increasing the authorization from $3 billion to $5 billion and extending it until August 31, 2028. As of the announcement date, the company had repurchased approximately 138.7 million ADSs for approximately $2.18 billion under its existing program.
"We placed great emphasis on shareholder returns. As of the end of the second quarter, we repurchased around US$394 million worth of shares this year," said Mr. Tao Xu, Executive Director and CFO. "Moving forward, we will continue to reward the shareholders who have been staying alongside our growth."