Kanzhun Rallies On Better-than-expected Q4 Results

(RTTNews) - Shares of Kanzhun Limited (BZ), an online recruitment platform in China, are climbing more than 17 percent Tuesday morning after reporting better-than-expected fourth-quarter results.

Net income for the fourth quarter was RMB331.2 million or $46.7 million, compared to net loss of RMB184.8 million for the same quarter of 2022.

Net income per ADS was RMB0.73 or $0.10 compared to net loss per ADS of RMB0.43 last year.

Excluding special items, earnings were RMB628.6 million or $88.5 million, compared to RMB59.5 million for the same quarter of 2022.

Adjusted net income per ADS was RMB1.43 or $0.20 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.17 per share.

Revenues for the quarter were RMB1.580 billion or $222.6 million, an increase of 46 percent from RMB1.082 billion for the same quarter a year ago. The consensus estimate was for $216.51 million.

BZ, currently at $20.54, touched a new high of $20.59 this morning.