Futu Holdings ( (FUTU) ) has released its Q3 earnings. Here is a breakdown of the information Futu Holdings presented to its investors.
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Futu Holdings Limited, listed on Nasdaq as FUTU, is a tech-driven online brokerage and wealth management platform offering a range of digitalized financial services, including trade execution, margin financing, and wealth management, with unique social media tools for user connectivity.
In its third quarter 2024 earnings report, Futu Holdings revealed significant growth across various metrics, including a considerable increase in paying clients and total client assets, alongside the announcement of a special cash dividend to commemorate its Nasdaq listing anniversary.
Futu reported a 29.6% increase in total revenues to HK$3,436.1 million and a 20.9% rise in net income to HK$1,319.2 million. The company saw a substantial 74.7% year-over-year increase in total trading volume, with notable growth in U.S. stock trading. Additionally, total client assets surged by 48.1% to HK$693.4 billion, underscoring the platform’s expanding market presence.
Operational efficiencies were highlighted by a 68% increase in daily average revenue trades and a moderate rise in margin financing and securities lending balance. The company’s strategic initiatives, including marketing campaigns and new product launches in key markets, contributed to increased client acquisition and asset growth.
Looking ahead, Futu’s management remains optimistic about exceeding their full-year client growth guidance, driven by resilient and expanding market dynamics in established and newer regions, positioning the company for continued success in the evolving financial services landscape.
