Why KE Holdings Stock (BEKE) Is Up 8%
Portfolio Pulse from Henry Khederian
KE Holdings Inc (BEKE) shares rose by 6.39% in pre-market trading after the company reported Q2 earnings, upsized its share repurchase program, and declared a special dividend. The company's Q2 adjusted earnings per share of 27 cents beat the analyst consensus estimate of 19 cents. However, its Q2 sales of $2.69 billion missed the analyst consensus estimate of $2.73 billion by 1.6%. The company's board extended the share repurchase program from $1 billion to $2 billion and approved a special cash dividend of $0.057 per ordinary share and $0.171 per ADS.
August 31, 2023 | 1:02 pm
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KE Holdings' Q2 earnings beat estimates and the company declared a special dividend, leading to a rise in its share price. However, its Q2 sales missed estimates.
KE Holdings' Q2 earnings beat and the declaration of a special dividend are positive news that likely contributed to the rise in its share price. However, the company's Q2 sales missed estimates, which could temper investor enthusiasm.
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