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.
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