11:17 AM EDT, 03/12/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

Kanzhun ( BZ ) shares were up nearly 22% in recent Tuesday trading after the company posted better-than-expected Q4 financial results.

The company reported Q4 adjusted net income of 1.39 renminbi ($0.20) per diluted American depositary share, up from 0.13 renminbi a year earlier. Analysts polled by Capital IQ expected 1.18 renminbi.

Revenue for the quarter ended Dec. 31 was 1.58 billion renminbi, up from 1.08 billion renminbi a year earlier. Analysts surveyed by Capital IQ expected 1.54 billion renminbi.

The Chinese online recruitment services company said it expects Q1 revenue of between 1.64 billion and 1.67 billion renminbi. Analysts polled by Capital IQ expect 1.63 billion renminbi.

Kanzhun ( BZ ) also said its board approved a plan to buy back up to $200 million of its shares over 12 months, beginning March 20.

Price: 21.26, Change: +3.75, Percent Change: +21.46