Futu Holdings shares jumped 13% as the company reported solid client growth and record trading volumes, driving revenue and earnings well above expectations.
- Net new funded accounts rose 23.7% year-over-year and 12.2% quarter-over-quarter to 252,000, with strong client acquisition in Hong Kong, Malaysia, and the U.S.
- Total trading volume surged 78.8% year-over-year and 54.6% quarter-over-quarter to HKD 6.42 trillion, fueled by heightened activity in U.S. AI-related stocks and Hong Kong semiconductor and Internet sectors.
- Revenue climbed 36% year-over-year to HKD 7.2 billion, with brokerage commissions up 30% and interest income up 37% driven by growing margin financing and securities lending.
- Operating margin remained steady at 62%, with net income increasing 42% year-over-year to HKD 3.6 billion and net margin expanding to 50.6%.
- Expenses rose notably, with selling and marketing costs up 53% year-over-year due to accelerated client acquisition efforts and R&D investments focused on AI and Web 3.0 initiatives.
Community Discussion