KE Holdings Non-GAAP EPADS of $0.16 in-line, revenue of $3.2B misses by $30M

* KE Holdings press release [https://seekingalpha.com/pr/20299895-ke-holdings-inc-announces-third-quarter-2025-unaudited-financial-results] (BEKE [https://seekingalpha.com/symbol/BEKE]): Q3 Non-GAAP EPADS of $0.16 in-line.
* Revenue of $3.2B misses by $30M, increased by 2.1% Y/Y.
* As of September 30, 2025, the combined balance of the Company’s cash, cash equivalents, restricted cash and short-term investments amounted to RMB55.7 billion (US$7.8 billion).
* Gross transaction value was RMB736.7 billion (US$103.5 billion), relatively flat year-over-year.
* Number of stores was 61,393 as of September 30, 2025, a 27.3% increase from one year ago. Number of active stores was 59,012 as of September 30, 2025, a 25.9% increase from one year ago.
* Number of agents was 545,511 as of September 30, 2025, a 14.5% increase from one year ago. Number of active agents was 471,501 as of September 30, 2025, an 11.4% increase from one year ago.
* Mobile monthly active users averaged 49.3 million in the third quarter of 2025, compared to 46.2 million in the same period of 2024.

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* KE Holdings: Scale Isn't Enough Without Margin Recovery [https://seekingalpha.com/article/4817137-ke-holdings-scale-isnt-enough-without-margin-recovery]
* KE Holdings Inc. (BEKE) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4816854-ke-holdings-inc-beke-q2-2025-earnings-call-transcript]
* KE Holdings Q3 2025 Earnings Preview [https://seekingalpha.com/news/4518647-ke-holdings-q3-2025-earnings-preview]
* UBS downgrades KE Holdings to Hold-equivalent, lowers earnings estimates [https://seekingalpha.com/news/4512342-ubs-downgrades-ke-holdings-to-hold-equivalent-lowers-earnings-estimates]