KE Holdings down after Q3 results miss expectations

KE Holdings

21/11/2024 12:31

**  U.S.-listed shares of real estate services company KE
Holdings  BEKE.K  fall 6.08%  at $19 in premarket after
third-quarter results came below estimates
    ** The company's third-quarter net revenue rose 26.8%
year-on-year to 22.6 billion yuan ($3.12 billion) below
analysts' average estimate based on LSEG data of a 31.7%
increase to 23.46 billion yuan
    ** "The existing home market was relatively stable (in the
third quarter), while the new home market was still in a
bottoming stage with weak supply and demand, " said the
company's Executive Director and Chief Financial Officer, Tao Xu
    ** Up to the previous session's close, shares were up 24.8%​
YTD.
    
  

($1 = 7.2409 Chinese yuan renminbi)

 (Reporting by Joao Manuel Mauricio)
 ((JoaoManuel.VicenteMauricio@thomsonreuters.com))