Kanzhun Ltd Q4 2023 Results & Share Repurchase Impact

Wednesday, 13 March 2024, 00:09

Kanzhun's revenue and net income saw impressive growth in Q4 2023, driven by strong user expansion, especially in blue-collar sectors and smaller enterprises. The announcement of a $200 million stock repurchase program further fueled investor optimism, resulting in a significant surge in stock price. Looking ahead, Kanzhun anticipates continued growth in revenue for Q1 2024, underlining its robust performance and investor appeal.
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Kanzhun Ltd Q4 2023 Results & Share Repurchase Impact

On Kanzhun's Blue-Collar Success

Kanzhun released strong quarterly results and announced a $200 million stock repurchase authorization. Shares of Kanzhun (NASDAQ: BZ) soared 18.8% on Tuesday after the Chinese online recruitment platform announced stronger-than-expected quarterly results and a new share repurchase program.

Revenue and User Growth

  • Kanzhun's Q4 2023 revenue grew 46% year over year to 1.58 billion yuan.
  • Average monthly active users rose 33.3% to 41.2 million.
  • Total paid enterprise customers increased by 44.4% to 5.2 million.

Mr. Jonathan Peng Zhao credited their outperformance to strong user growth, especially in blue-collar industries and lower-tier cities. The company's calculated cash billings and user metrics demonstrated significant year-over-year growth, signaling a positive trajectory for Kanzhun.


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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