Why Shares of KE Holdings Are Falling Today
Shares of KE Holdings (NYSE: BEKE), the largest real estate platform in China, traded as much as 16% down at one point this morning after the company reported earnings for the second quarter of the year. As of 11:15 a.m. EDT, however, shares were down 4.15%.
The company reported diluted earnings per American depositary share equivalent to $0.14, which is down 56% from the second quarter of 2020. Total revenue, however, equivalent to roughly $3.7 billion, grew 20% from the second quarter of 2020. Earnings missed analysts' expectations, but revenue beat.
In the third quarter, management is projecting total net revenue to be between $2.2 billion and $2.4 billion, representing a decrease of approximately 24.6% to 29.4% from the same quarter of 2020.
Source Fool.com
