From GlobeNewswire: 2024-12-11 05:55:00

KANZHUN LIMITED (Nasdaq: BZ; HKEX: 2076) reported unaudited financial results for Q3 2024. Highlights include 6.0 million paid enterprise customers, 58.0 million average monthly active users, and revenues of RMB1,911.6 million. Income from operations reached RMB330.2 million, with net income at RMB463.8 million for the quarter.

CEO Jonathan Peng Zhao highlighted positive results from growth engines despite challenges in the recruitment market. CFO Phil Yu Zhang emphasized stable cost structures and robust 30.0% MAU growth, enhancing profitability. Share repurchase programs were authorized up to US$350 million for shareholder returns.

Q3 2024 saw revenues of RMB1,911.6 million, up 19.0% from the same period in 2023. Revenues from online recruitment services were RMB1,889.1 million, while other services generated RMB22.5 million. Total operating expenses were RMB1,586.9 million, with share-based compensation expenses at RMB275.1 million.

Income from operations and adjusted income reached RMB330.2 million and RMB605.3 million, respectively, for Q3 2024. Net income and adjusted net income were RMB463.8 million and RMB738.9 million, showing increases from the previous year. Earnings per ADS were RMB1.03 for basic and diluted net income in Q3 2024.

Cash position as of September 30, 2024, was RMB14,599.5 million. The Company expects Q4 2024 revenues between RMB1.795 billion and RMB1.81 billion, reflecting a 13.6% to 14.6% year-on-year increase. A conference call discussing financial results will be held on December 11, 2024, at 7:00 AM U.S. Eastern Time.



Read more at GlobeNewswire:: KANZHUN LIMITED Announces Third Quarter 2024 Financial