Kanzhun's Blue-Collar Success Propels Share Price 18.8% Higher

Wednesday, 13 March 2024, 00:09

Kanzhun, the Chinese online recruitment platform, reported a remarkable 46% revenue growth in the fourth quarter of 2023, exceeding analyst expectations. The company also announced a $200 million stock repurchase program, fueling investor optimism and driving share prices up by 18.8%.
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Kanzhun's Blue-Collar Success Propels Share Price 18.8% Higher

On Kanzhun's Blue-Collar Success

Kanzhun's fourth-quarter 2023 revenue surged 46% year over year to $222.6 million, with non-GAAP net income reaching $88.5 million. Founder and CEO Mr. Jonathan Peng Zhao attributed their strong performance to user growth in blue-collar sectors and lower-tier cities, driving a 61.2% increase in cash billings.

What's Next for Kanzhun Investors?

Kanzhun expects continued growth in the first quarter of 2024, projecting a revenue range of $233 million to $237 million. The company also unveiled a $200 million share repurchase program, highlighting its confidence in future prospects.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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