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Earnings Call Summary | Kanzhun(BZ.US) Q1 2024 Earnings Conference

moomoo AI ·  May 21 14:39  · Conference Call

The following is a summary of the Kanzhun Limited (BZ) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Kanzhun Limited's Q1 2024 cash billings were RMB2.05 billion, marking a 24% year-on-year and 16% quarter-on-quarter growth.

  • GAAP revenue achieved a growth rate of 33% year-on-year and 8% quarter-on-quarter at RMB1.7 billion.

  • An adjusted net income of RMB530 million was reported, up by 117% year-on-year.

  • The company also estimates an improvement within the gross margin, decrease in G&A expenses, and a stable R&D expenses margin in the upcoming quarter.

Business Progress:

  • Kanzhun Limited witnessed an increase in the average verified Monthly Active Users on the BOSS Zhipin app by 17%.

  • Growth strategy includes a focus on blue-collar user growth, lower-tier cities expansion, and strategic marketing with events like the Paris Olympics serving as flagship initiatives.

  • The company acquired WD Technology, a leading manufacturing talent delivery platform in China, to leverage its core abilities and enhance the user base.

  • Investing in AI technology emerged as a high-priority strategy, designed to bolster service excellence for job seekers and recruiters.

More details: Kanzhun IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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