Futu Holdings ( (FUTU) ) has released its Q4 earnings. Here is a breakdown of the information Futu Holdings presented to its investors.
Futu Holdings Limited is a technology-driven online brokerage and wealth management platform that offers a fully digitalized investing experience, primarily serving the emerging affluent population. In its latest earnings report, Futu Holdings announced significant growth in both its fourth quarter and full year 2024 financial results, highlighting a substantial increase in paying clients and trading volumes. The company reported a 41% year-over-year increase in paying clients, reaching over 2.4 million, and a 53.1% rise in total client assets to HK$743.3 billion. The fourth quarter saw a remarkable 201.7% year-over-year increase in total trading volume to HK$2.89 trillion, driven by strong performance in U.S. and Hong Kong stock markets.
Key financial metrics for the fourth quarter of 2024 included an 86.8% increase in total revenues to HK$4,432.5 million and a 113.3% rise in net income to HK$1,869.5 million. For the full year, total revenues grew by 35.8% to HK$13,590.1 million, while net income increased by 27% to HK$5,433.1 million. The company’s strategic focus on expanding its client base and enhancing its product offerings across different markets, such as Hong Kong, Singapore, Malaysia, and Japan, contributed to these positive results.
Futu’s management expressed optimism for continued growth, with plans to acquire 800,000 net new paying clients in 2025. The company also emphasized its efforts to improve client acquisition through effective marketing campaigns and localized product experiences. As Futu continues to expand its market presence and enhance its digital platforms, it remains well-positioned to capitalize on the growing demand for online brokerage and wealth management services.