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: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.