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KANZHUN LIMITED Announces Second Quarter 2024 Financial Results
BZBOSS ZHIPIN(BZ) GlobeNewswire News Room·2024-08-28 11:10

Financial Performance - Revenues for Q2 2024 were RMB1,916.7 million (US263.8million),a28.8263.8 million), a 28.8% increase from RMB1,487.6 million in Q2 2023 [2][4] - Net income for Q2 2024 was RMB417.3 million (US57.4 million), a 34.8% increase from RMB309.6 million in Q2 2023 [2][8] - Adjusted net income for Q2 2024 was RMB718.7 million (US98.9million),a26.498.9 million), a 26.4% increase from RMB568.5 million in Q2 2023 [2][8] User Growth and Engagement - Average monthly active users (MAUs) for Q2 2024 were 54.6 million, a 25.2% increase from 43.6 million in Q2 2023 [2] - Total paid enterprise customers in the twelve months ended June 30, 2024 were 5.9 million, a 31.1% increase from 4.5 million in the same period of 2023 [2] Revenue Breakdown - Revenues from online recruitment services to enterprise customers were RMB1,892.7 million (US260.4 million) in Q2 2024, a 28.7% increase from RMB1,470.8 million in Q2 2023 [4] - Revenues from other services, mainly paid value-added services to job seekers, were RMB24.0 million (US3.3million)inQ22024,a42.93.3 million) in Q2 2024, a 42.9% increase from RMB16.8 million in Q2 2023 [4] Operating Costs and Expenses - Total operating costs and expenses were RMB1,566.6 million (US215.6 million) in Q2 2024, a 19.5% increase from RMB1,310.8 million in Q2 2023 [5] - Research and development expenses were RMB443.7 million (US61.1million)inQ22024,a21.361.1 million) in Q2 2024, a 21.3% increase from RMB365.9 million in Q2 2023, reflecting increased investments in technology [6] Cash Position and Share Repurchase - Net cash provided by operating activities was RMB868.6 million (US119.5 million) in Q2 2024, a 13.7% increase from RMB763.7 million in Q2 2023 [10] - The company had a cash and cash equivalents balance of RMB14,281.9 million (US1,965.3million)asofJune30,2024[11]−ThecompanyauthorizedasharerepurchaseprogramofuptoUS1,965.3 million) as of June 30, 2024 [11] - The company authorized a share repurchase program of up to US200 million effective from March 20, 2024 [12] Outlook - The company expects total revenues for Q3 2024 to be between RMB1.90 billion and RMB1.92 billion, representing a year-on-year increase of 18.2% to 19.5% [13] Non-GAAP Financial Measures - Calculated cash billings for Q2 2024 were RMB1,950.7 million (US$268.4 million), a 20.5% increase from RMB1,619.5 million in Q2 2023 [2][16] - Adjusted income from operations increased by 52.1% year over year, with the adjusted operating margin reaching a historical high in Q2 2024 [3]