Kanzhun Ltd (NASDAQ:BZ) Q3 2023 Earnings Conference Call November 14, 2023 7:00 AM ET
Company Participants
Wenbei Wang - Head, IR & Capital Markets
Peng Zhao - Founder, Chairman & CEO
Yu Zhang - CFO & Executive Director
Conference Call Participants
Eddie Wang - Morgan Stanley
Timothy Zhao - Goldman Sachs Group
Wei Xiong - UBS
Robin Zhu - Sanford C. Bernstein & Co.
Yang Bai - CICC
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Kanzhun Limited Third Quarter 2023 Financial Results Conference Call [Operator Instructions]. Today's conference is being recorded. At this time, I would like to turn the conference over to Ms. Wenbei Wang, Head of Investor Relations. Please go ahead, ma'am.
Wenbei Wang
Thank you, operator. Good evening, and good morning, everyone. Welcome to our third quarter 2023 earnings conference call. Joining me today are our Founder, Chairman and CEO, Mr. Jonathan Peng Zhao; and our Director and CFO, Mr. Phil Yu Zhang. Before we start, we would like to remind you that today's discussion may contain forward-looking statements, which are based on management's current expectations and operations that involve known and unknown risks, uncertainties and other factors not under company's control, which may cause actual results, performance or achievements of the company to be materially different.
The company's cautions you not to place undue reliance on forward-looking statements and do not undertake any obligation to update this forward-looking information, except as required by law. During today's call, management will also discuss certain non-GAAP financial measures for comparison purpose only. For a definition of non-GAAP financial measures and the reconciliation of GAAP to non-GAAP financial results, please see the earnings release issued earlier today. In addition, a webcast replay of this conference call will be available on our website at ir.zhipin.com. With that, I will now turn the call to Jonathan, our Founder, Chairman and CEO.
Peng Zhao
Hello, everyone. Welcome to our Third Quarter 2023 Earnings Conference Call. On behalf of the company and our employees, management team and Board of Directors I would like to stress our sincere gratitude to our users and investors will trust and support us.
First, I would like to share with you our performance for the third quarter throughout the history. We recorded GAAP revenue of RMB 1.61 billion for this quarter up 36.3% year-on-year. We booked RMB 1.64 billion in calculated cash billings, up 32.1% year-on-year. Our adjusted net income, which excluded share-based compensation expenses, increased by 89.6% year-on-year to .