Kanzhun Limited's stock plummeted 6.87% during intraday trading on Wednesday, following the release of its first-quarter financial results and second-quarter outlook.
The online recruitment platform reported Q1 revenue of 2.07 billion Chinese Renminbi, which slightly missed the FactSet consensus estimate of 2.08 billion Renminbi. While the company's adjusted earnings per share beat analyst expectations, the revenue shortfall appears to have disappointed investors.
Further pressure came from the company's Q2 revenue guidance, which is expected to be between 2.38 billion and 2.42 billion Renminbi. The midpoint of this range falls below the FactSet estimate of 2.42 billion Renminbi, signaling potentially conservative growth expectations for the coming quarter.
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