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KANZHUN LIMITED Announces Third Quarter 2024 Financial Results

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Kanzhun Limited
Kanzhun Limited

BEIJING, Dec. 11, 2024 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ; HKEX: 2076), a leading online recruitment platform in China, today announced its unaudited financial results for the quarter ended September 30, 2024.

Third Quarter 2024 Highlights

  • Total paid enterprise customers1 in the twelve months ended September 30, 2024 were 6.0 million, an increase of 22.4% from 4.9 million in the twelve months ended September 30, 2023.

  • Average monthly active users (MAU)2 for the third quarter of 2024 were 58.0 million, an increase of 30.0% from 44.6 million for the same quarter of 2023.

  • Revenues for the third quarter of 2024 were RMB1,911.6 million (US$272.4 million), an increase of 19.0% from RMB1,606.6 million for the same quarter of 2023.

  • Income from operations for the third quarter of 2024 was RMB330.2 million (US$47.1 million), an increase of 26.5% from RMB261.0 million for the same quarter of 2023. Adjusted income from operations3 for the third quarter of 2024 was RMB605.3 million (US$86.2 million), an increase of 10.2% from RMB549.4 million for the same quarter of 2023.

  • Net income for the third quarter of 2024 was RMB463.8 million (US$66.1 million), an increase of 8.9% from RMB425.7 million for the same quarter of 2023. Adjusted net income3 for the third quarter of 2024 was RMB738.9 million (US$105.3 million), an increase of 3.5% from RMB714.1 million for the same quarter of 2023.

Mr. Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, remarked, “While the overall recruitment market environment remained challenging in the third quarter, our strategical emphasis on key growth engines continue to yield positive results. Robust user growth, solid enterprise retention and stable ARPPU (average revenue per paying enterprise user), all attest the resilience of our business model in the face of headwinds and the sustainability of our monetization approach. Our unwavering commitment to shareholder returns, coupled with ongoing share repurchase efforts, underscores the management’s resolute confidence in the Company’s long-term growth trajectory.”

Mr. Phil Yu Zhang, Chief Financial Officer of the Company, elaborated, “We delivered solid sets of financial results in the third quarter with revenues up by 19.0% year-on-year and net income hitting quarterly record high. Our cost structure remained stable, meanwhile achieved a robust 30.0% year-on-year MAU growth, showcasing improved marketing efficiency. As we continue to focus on sustainable cost control, the strong operating leverage inherent in our business model will further enhance our profitability in the coming quarters.”