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Futu Holdings Limited (Nasdaq: FUTU) is a leading technology company revolutionizing the investing experience through its fully digitalized brokerage and wealth management platform. The company operates primarily through its proprietary applications, Futubull and Moomoo, offering seamless access to trading services on mobile devices, tablets, and desktops.
Futu provides a comprehensive range of investment services, including trade execution, margin financing, and securities lending. Clients can trade a diverse array of securities such as stocks, warrants, options, and exchange-traded funds (ETFs) across multiple markets, including Hong Kong, Mainland China, Singapore, and the United States.
One of the key differentiators of Futu's platform is its robust integration of market data, news, and research, coupled with powerful analytical tools. These features empower users to make informed investment decisions efficiently. In addition to its advanced trading capabilities, Futu has embedded social media tools within its platforms, creating a vibrant ecosystem that connects users, investors, companies, analysts, media, and key opinion leaders.
Recent achievements underscore Futu's strategic growth and commitment to innovation. As of the fourth quarter of 2023, the company reported revenues of $303.8 million, marking a 4.1% year-over-year increase. For the full year 2023, revenues reached $1.281 billion with a net income of $585.1 million, representing a significant year-over-year growth of 31.4% and 45.9%, respectively.
Futu's international brand, Moomoo, has been pivotal in the company's global expansion. As of the end of 2023, Moomoo had over 21.64 million global users and 1.71 million paying clients. With a strong presence in countries like the US, Singapore, Australia, Japan, Canada, and Malaysia, Moomoo has received numerous accolades, such as the Best Stock Trading App award from FinTech Breakthrough in 2024.
The company continues to expand its global footprint, recently launching services in Malaysia under Moomoo MY, which attracted over 30,000 new clients within a week. Moomoo Singapore (Moomoo SG) also achieved profitability in Q4 2023, with significant growth in its high-net-worth segment. Moomoo US has enhanced its offerings with collaborations like the one with CBOE Global Markets to provide index options products.
Futu Holdings Limited remains committed to advancing the financial technology landscape, providing innovative, user-friendly tools and services that meet the diverse needs of modern investors.
Futu Holdings (Nasdaq: FUTU) reported strong Q3 2024 results with total revenues of US$442.3 million, up 29.6% YoY, and non-GAAP adjusted net income of US$180 million, increasing 20.8% YoY. Global users reached 24.1 million, with paying clients approaching 2.2 million, up 33.1% YoY. Total client assets grew to US$89.2 billion, rising 48.1% YoY. Trading volume increased to US$245 billion, up 74.7% YoY. The company saw significant growth in newly penetrated markets, with Japan, Canada, and Malaysia recording double-digit increases in account openings and client assets. The wealth management business achieved record growth with assets under management reaching US$12.5 billion.
Futu Holdings reported strong Q3 2024 financial results with total revenues increasing 29.6% year-over-year to HK$3,436.1 million. The company saw significant growth in key metrics: paying clients up 33.1% to 2.19 million, total client assets up 48.1% to HK$693.4 billion, and trading volume up 74.7% to HK$1.90 trillion. Net income rose 20.9% to HK$1,319.2 million. The board approved a special cash dividend of US$0.25 per ordinary share. Malaysia was the top contributor of new paying clients, while Hong Kong and Singapore together contributed over one-third of new clients.
Moomoo announced a three-day virtual event featuring partnerships with Cboe Global Markets, Wellington Management, BNY, and Franklin Templeton to help investors manage market volatility. The event will include nine webinars from November 14-16, 2024, covering topics such as 2025 investment ideas, portfolio building, and options strategies.
The initiative aims to enhance retail investors' understanding of volatility management and technology tools for risk management. The event will also share findings from a Q3 investor survey on options trading interest. Sessions will stream live on the moomoo app, starting at 8:30 am EST on November 14th through 12:20 pm EST on November 16th, with opportunities for attendees to earn Cash Rewards and moomoo points.
Futu Holdings (Nasdaq: FUTU), a tech-driven online brokerage and wealth management platform, announced it will release its third quarter 2024 financial results on November 19, 2024, before U.S. markets open. The company will host an earnings conference call on the same day at 7:30 AM U.S. Eastern Time (8:30 PM Beijing/Hong Kong Time). Participants must pre-register for the conference call, and both a live and archived webcast will be available on the company's investor relations website.
Moomoo and Cboe Global Markets released findings from their 2024 options trader survey, revealing increased popularity in options trading among retail investors. The survey of over 1,000 moomoo users showed that 67% of respondents have been trading options for less than three years, while 49% trade options daily or weekly.
Key findings indicate that income generation is the primary motivation (67%) for options trading, followed by risk management. The surge in options trading is attributed to lower fees, better access to financial information, and improved analytical tools. The survey also highlighted that many traders are interested in options education to enhance their trading capabilities, with 43% specifically trading Zero Days-to-Expiration options.
Moomoo, the investment and trading platform, has launched its redesigned moomoo NX desktop version to better serve U.S. retail investors. The new platform offers customizable multi-monitor layouts, advanced features, powerful charting and analytical tools, and seamless symbol syncing across tabs. It also provides built-in market insights and educational resources to empower informed decision-making.
Since its U.S. launch in 2018, moomoo has been offering a user-friendly trading platform with access to Level 2 data and zero-commission trading for stocks, ETFs, and equity options. The platform aims to bridge the gap between institutional and retail investors, catering to both novice and seasoned traders. Moomoo plans to relaunch its web version later in 2024.
Moomoo, an investment and trading platform, has launched its redesigned desktop version to better serve U.S. retail investors. The new platform offers customizable multi-monitor layouts, advanced features including powerful charting and analytical tools, seamless symbol syncing across tabs, and streamlined order placement. It also provides built-in market insights and educational resources.
Moomoo aims to bridge the gap between institutional and retail investors by offering a reliable, user-friendly trading platform for all experience levels. The platform provides access to Level 2 data for brokerage customers and zero-commission trading for stocks, ETFs, and equity options. Moomoo's CEO, Neil McDonald, emphasizes their commitment to leveraging technological innovation to meet customer needs.
Users can download the new moomoo desktop version to experience the platform. Moomoo also plans to relaunch its web version later in 2024.
Futu Holdings (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, has received a reaffirmation of its investment grade rating from S&P Global Ratings. The company's long-term issuer credit rating remains at 'BBB-' with a stable outlook. S&P also noted that Futu's Hong Kong securities firm has a stand-alone credit profile of 'bbb'.
S&P's assessment highlights Futu's strong market position in Hong Kong and anticipates continued good growth momentum in its overseas business. The rating agency expects Futu to maintain its strong capitalization and robust funding profile to support ongoing business expansion.
Futu Holdings (Nasdaq: FUTU), parent company of moomoo, reported strong Q2 2024 earnings with US$400.7 million in total revenues, up 25.9% YoY, and US$166.0 million in non-GAAP adjusted net income, an 8.6% YoY increase. The company's global user base grew to 23.3 million, up 13.3% YoY, with 2 million paying clients, a 28.8% YoY increase. Total client assets reached US$74.2 billion, up 11.9% QoQ, while total trading volume surged 21.1% QoQ to US$207.7 billion. Futu expanded its offerings, including Japanese stock trading and cryptocurrency ETFs, with wealth management AUM surpassing US$10 billion. The company launched crypto trading in Singapore and Hong Kong, aiming to provide more diverse investment opportunities globally.
Futu Holdings (FUTU) reported strong Q2 2024 results, with total revenues increasing 25.9% year-over-year to HK$3,129.0 million (US$400.7 million). The company saw significant growth in key metrics:
- Paying clients up 28.8% YoY to 2,042,313
- Total client assets up 24.3% YoY to HK$579.3 billion
- Trading volume up 69.0% YoY to HK$1.62 trillion
- Net income up 8.0% YoY to HK$1,209.3 million (US$154.9 million)
Futu raised its 2024 guidance to 550,000 new paying clients. The company also launched cryptocurrency trading in Hong Kong and Singapore, and saw strong growth in wealth management, with total client assets in this segment up 83.6% YoY.
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