KE Holdings reports Q1 2026 net income up 46.7% despite 19% revenue drop amid real estate market shifts

KE Holdings Inc. announced its Q1 2026 unaudited results showing a 19% decline in net revenues to RMB18.9 billion due to a slowdown in new and existing home transactions. However, net income rose 46.7% to RMB1.255 billion, driven by improved operating efficiency, cost control, and higher margins. The company noted positive market changes and plans to focus on efficiency-driven growth and AI-enabled services to enhance customer decisions and service provider capabilities. KE Holdings also repurchased $195 million in shares, signaling confidence in its long-term strategy despite current market challenges.