KE Holdings profit doubles to RMB2.62 billion

• KE Holdings reported Q2 2026 net income of RMB2.62 billion, up 100.8% year over year, despite revenue declining 5.7% to RMB24.5 billion.
• Gross transaction value increased 6.3% to RMB933.8 billion, while gross margin expanded to 28.6%.
• The company repurchased about US$250 million of shares and ended the quarter with 60,274 stores and 540,634 agents.

KE Holdings (NYSE:BEKE) reported Q2 2026 gross transaction value of RMB933.8 billion, up 6.3% year over year, while net income increased to RMB2.62 billion.

Existing home GTV increased 8% and new home GTV rose 1.2%, but net revenue declined 5.7% to RMB24.5 billion due mainly to lower home renovation, furnishing and rental services revenue.

Gross margin increased to 28.6% from 21.9%, while operating margin improved to 12.3% from 4.1% as cost of revenues and operating expenses declined.

Adjusted net income rose 74.9% to RMB3.19 billion, adjusted operating margin reached 14.6% and adjusted EBITDA increased to RMB4.18 billion.

KE Holdings ended the quarter with 60,274 stores and 540,634 agents across its housing transaction and related service network.

The company also repurchased approximately US$250 million of shares during the quarter, including its first share repurchases conducted in Hong Kong.