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1 day ago, 06:31 AM
BEKE 2Q26 First Take: solid results. Total revenue came in slightly above estimates, driven by a better-than-expected recovery in the core brokerage business. However, the home improvement biz. underperformed with a widening revenue decline.
The bigger surprise was earnings: Adj. profit reached RMB 3.2bn vs. the Street’s ~RMB 2.4bn. Despite declining revenue, profit surged 75% YoY, underscoring strong cost control and efficiency gains.
The market is likely to react positively. However, given the business’s high cyclicality, the trajectory of the housing market will determine whether BEKE pushes to new highs or consolidates after the good news is priced in. $KE(BEKE.US) $BEKE-W(02423.HK)
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