Kanzhun Reports Strong GAAP Profit Growth Driven by Investment Gain
Kanzhun Limited (NASDAQ: BZ) reported strong second-quarter results, with a significant increase in GAAP net income driven largely by an investment gain. Revenue rose 14.1% year-over-year to RMB2.40 billion and GAAP operating margin improved to 36%. However, the company's adjusted net income grew only modestly at 9.4%, highlighting that much of its profit increase came from non-operational sources. The bulk of Kanzhun’s GAAP net-income surge—173% year-over-year—to RMB1.94 billion was attributed to a one-time investment gain of approximately RMB1.10 billion after taxes, stemming from fair-value changes in an investee that went public earlier this year. This gain is excluded from adjusted metrics and did not contribute directly to the company’s core recruitment platform operations. Despite the gap between GAAP and adjusted earnings, Kanzhun showed solid operational performance with 10% growth in both enterprise customers and monthly active users. The balance sheet also remained strong, ending June with RMB18.8 billion in cash and equivalents.
Tickers: $BZ