Kanzhun Ltd (NASDAQ:BZ), a leading online recruitment platform in China, stock rose 3.24% (As on December 12, 11:36:56 AM UTC-4, Source: Google Finance) after the company in the third quarter of FY 24 has reported adjusted net income for the third quarter of 2024 was RMB738.9 million (US$105.3 million), an increase of 3.5% from RMB714.1 million for the same quarter of 2023. Revenues for the third quarter of 2024 were RMB1,911.6 million (US$272.4 million), an increase of 19.0% from RMB1,606.6 million for the same quarter of 2023. Income from operations for the third quarter of 2024 was RMB330.2 million (US$47.1 million), an increase of 26.5% from RMB261.0 million for the same quarter of 2023. Total paid enterprise customers in the twelve months ended September 30, 2024 were 6.0 million, an increase of 22.4% from 4.9 million in the twelve months ended September 30, 2023. 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.

Moreover, revenues from online recruitment services to enterprise customers were RMB1,889.1 million (US$269.2 million) for the third quarter of 2024, representing an increase of 18.7% from RMB1,591.5 million for 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, were RMB22.5 million (US$3.2 million) for the third quarter of 2024, representing an increase of 49.0% from RMB15.1 million for the same quarter of 2023, mainly benefiting from expanded user base. Net cash provided by operating activities was RMB812.3 million (US$115.8 million) for the third quarter of 2024, relatively stable compared to that of RMB812.6 million for the same quarter of 2023. Balance of cash and cash equivalents, short-term time deposits and short-term investments was RMB14,599.5 million (US$2,080.4 million) as of September 30, 2024.

Additionally, in August 2024, the Company’s board of directors authorized a new share repurchase program effective from August 29, 2024 for a 12-month period, under which the Company may repurchase up to US$150 million of its shares (including in the form of ADSs). This share repurchase program operates in conjunction with the previous share repurchase program that became effective on March 20, 2024 for a 12-month period, under which the Company may repurchase up to US$200 million of its shares (including in the form of ADSs).

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, representing a year-on-year increase of 13.6% to 14.6%.