KE Holdings Inc. (BEKE), a housing transactions and services company, on Tuesday announced that its net income declined in the second quarter compared with the previous year.
For the second quarter, net income attributable to KE Holdings Inc.'s ordinary shareholders declined to RMB 1.30 billion, or $181 million, from RMB 1.90 billion in the prior year.
Earnings per ADS attributable to the company's ordinary shareholders were RMB 1.11, or $0.15, versus RMB 1.61 last year.
Adjusted net income attributable to KE Holdings Inc.'s ordinary shareholders fell to RMB 1.82 billion, or $253.42 million, from RMB 2.68 billion in the prior year.
Adjusted earnings per ADS attributable to the company's ordinary shareholders were RMB 1.55, or $0.22, versus RMB 2.28 last year.
Adjusted EBITDA declined to RMB 2.20 billion, or $307.54 million, from RMB 3.371 billion in the prior year.
Income from operations declined to RMB 1.06 billion, or $147.89 million, from RMB 2.01 billion in the prior year.
Adjusted income from operations declined to RMB 1.61 billion, or $224.29 million, from RMB 2.81 billion in the prior year.
Revenue increased to RMB 26.01 billion, or $3.63 million, from RMB 23.37 billion in the previous year.
Further, the company has raised its share repurchase authorization from $3 billion to $5 billion and extended the program until Aug. 31, 2028, replacing the previous plan set to expire in 2025.
Since its launch in August 2022, the company has bought back about 138.7 million ADSs, equal to 416.2 million Class A ordinary shares, for roughly $2.18 billion.
In the pre-market trading, KE is 0.80% lesser at $18.66 on the New York Stock Exchange.
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