KE Holdings Q1 Profit, GTV Decline; Stock Down In Pre-market

(RTTNews) - KE Holdings Inc. (BEKE), an integrated online and offline platform for housing transactions and services, reported Thursday that its first-quarter net income attributable to shareholders was RMB432 million or $60 million, compared to RMB2.75 billion a year ago.

Net income per ADS was RMB0.37 or $0.05, compared to RMB2.26 last year.

Adjusted net income attributable was RMB1.39 billion or $193 million, compared to RMB3.56 billion in the same period of 2023.

Adjusted net income per ADS were RMB1.18 or $0.16, compared to prior year's RMB2.92.

Net revenues decreased 19.2 percent to RMB16.4 billion or $2.3 billion from RMB20.3 billion in the same period of 2023.

Gross transaction value or GTV was RMB629.9 billion or $87.2 billion, a decrease of 35.2 percent year-over-year.

Mobile monthly active users or MAU averaged 47.7 million, compared to 45.4 million in the same period last year.

In pre-market activity on the NYSE, KE Holdings shares were losing around 3.2 percent to trade at $18.26.

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