Why KE Holdings Stock (BEKE) Is Up 8%

KE Holdings Inc - ADR BEKE shares are trading higher by 6.39% to $16.66 during Thursday's pre-market session after the company reported quarterly earnings, upsized an existing share repurchase program and declared a special dividend.  

KE Holding reported second-quarter adjusted earnings of 27 cents per share which beat the analyst consensus estimate of 19 cents. The company also reported quarterly sales of $2.69 billion which missed the analyst consensus estimate of $2.73 billion by 1.6%.

This sales figure is a 31% increase over sales of $2.06 billion the same period last year.

What Else?

Effective August 31, the company's board extended and enhanced the share repurchase program. The repurchase authorization has been raised from $1 billion to $2 billion for Class A ordinary shares and/or ADSs, with the extension valid until August 31, 2024.

The company's board of directors has also approved a special cash dividend of $0.057 per ordinary share and $0.171 per ADS. This dividend is payable to shareholders and ADS holders recorded as of September 15.

According to data from Benzinga Pro, BEKE has a 52-week high of $21.08 and a 52-week low of $9.09.