Chinese job board Kanzhun (BZ:NSQ) reported revenue on 11 December 2024 of RMB 1.91 billion (USD 263.1 million), an increase of 19.0% when compared to the same period a year ago.

Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, said in a press release, “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,” Zhao said.

Adjusted income from operations for the third quarter of 2024 was RMB 605.3 million (USD 83.3 million), an increase of 10.2% from the same quarter of 2023. Adjusted net income was RMB 738.9 million (USD 101.7 million) for the third quarter of 2024, representing an increase of 3.5% from the same quarter of 2023.

Phil Yu Zhang, Chief Financial Officer of the company, said, “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.”

Total paid enterprise customers in the twelve months ended 30 September 2024 were 6.0 million, an increase of 22.4% from 4.9 million in the twelve months ended 30 September 2023. Paid enterprise customers are defined as enterprise users and company accounts from which the group recognises revenue for its online recruitment services.

Average monthly active users (MAU) 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. Monthly active users refer to the number of verified user accounts, including both job seekers and enterprise users, that logged on to our mobile application in a given month at least once.

Revenue by segment

Revenues from online recruitment services to enterprise customers increased by 18.7% from the same quarter of 2023. This increase was mainly driven by the paid enterprise user growth.

Revenues from other services, which mainly comprise paid value-added services offered to job seekers, increased 49.0% from the same quarter of 2023, mainly benefiting from an expanded user base.

For the fourth quarter of 2024, the company currently expects its total revenues to be between RMB 1.795 billion and RMB 1.81 billion (USD 247.0 million to 249.1 million), representing a year-on-year increase of 13.6% to 14.6%.

Kanzhun Ltd (2076:HKG) closed at 56.80, 32.09% above the 52 week low of 43.00 set on Sep 02, 2024.