Kanzhun Ltd., (BZ:NSQ) the world’s seventh-largest provider of online job advertising, reported revenue rose 36.3% to RMB 1.61 billion (USD 220.2 million) in the third quarter, exceeding the high end of guidance. The Beijing-based company operates the online recruitment platform Boss Zhipin in China.

Recruitment demand continued to improve in the third quarter, Kanzhun founder, chairman and CEO Jonathan Peng Zhao said in a press release.

“We are pleased to deliver a strong set of results for the third quarter of 2023, with revenue showing fast growth momentum while profitability remained robust,” Peng Zhao said.

Kanzhun reported the number of monthly active users rose 37.7% year over year in the third quarter to 44.6 million. In addition, the number of total paid enterprise customers in the 12 months ended 30 September rose 32.4% to 3.7 million due to recovering trends in the job market.

“Benefiting from the job market’s recovering trend and our continuous efforts to enhance product capabilities, the number of paid enterprise customers reached another historical high,” CFO Phil Yu Zhang said in a press release.

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Guidance

Kanzhun expects fourth-quarter revenue to be up by between 39.6% and 43.3%.

Share price and market cap

Shares in Kanzhun closed up 5.19% on the Nasdaq to USD 15.81 on 14 November; shares were 20.41% above their 52-week low. The company had a market cap of USD 6.57 billion.