Kanzhun Ltd. Sponsored Adr ( (BZ) ) has released its Q3 earnings. Here is a breakdown of the information Kanzhun Ltd. Sponsored Adr presented to its investors.
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Kanzhun Ltd., operating as BOSS Zhipin, is a prominent online recruitment platform in China that connects job seekers and employers through a dynamic mobile application, enhancing the recruitment process with intelligent recommendations and facilitating seamless communication.
In its third quarter of 2024, Kanzhun Ltd. reported a robust financial performance despite a challenging recruitment market. The company highlighted significant growth in user base and revenue, attributing these achievements to its strategic focus on key growth drivers.
During the quarter, Kanzhun Ltd. recorded a 19% year-over-year increase in revenues, reaching RMB1,911.6 million. The company also reported a 30% rise in average monthly active users, totaling 58 million. Net income grew by 8.9% year-over-year, amounting to RMB463.8 million, while adjusted net income rose by 3.5%, hitting RMB738.9 million. The company also saw an increase in paid enterprise customers, reaching 6 million, which contributed significantly to revenue growth.
Operating expenses increased, largely due to investments in marketing during major global events and technology advancements. However, the company maintained stable cost structures and showcased enhanced marketing efficiency, reflecting in its improved profitability metrics.
Looking ahead, Kanzhun Ltd. remains optimistic about its growth trajectory, supported by strong user engagement and retention. The company expects continued revenue growth in the coming quarters, driven by sustained strategic investments and effective cost management.
