BEKE - Why Shares of KE Holdings Are Rising Today
Shares of the Chinese online real estate platform KE Holdings (NYSE: BEKE) traded 11.6% higher as of 3:02 p.m. EST after the company reported earnings for the third quarter of 2021. An analyst also upgraded its outlook on the stock.
KE Holdings delivered a loss of earnings per American depositary share equivalent to $0.23 on total revenue equivalent to $2.8 billion. Earnings per share missed analyst estimates, while revenue beat.
The loss in the quarter grew significantly from the third quarter of 2020, while total revenue dropped nearly 12% from the same time period. Management is also guiding for fourth-quarter net revenue to drop by more than 30% from the fourth quarter of 2020.
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Why Shares of KE Holdings Are Rising Today