Futu Announces Second Quarter 2024 Unaudited Financial Results
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.
Futu Holdings (FUTU) ha riportato ottimi risultati per il secondo trimestre del 2024, con ricavi totali in aumento del 25,9% rispetto all'anno precedente, raggiungendo HK$3.129,0 milioni (US$400,7 milioni). L'azienda ha registrato una crescita significativa in metriche chiave:
- Clienti paganti aumentati del 28,8% su base annua, arrivando a 2.042.313
- Totale attivi dei clienti aumentati del 24,3% su base annua, raggiungendo HK$579,3 miliardi
- Volume degli scambi aumentato del 69,0% rispetto all'anno precedente, raggiungendo HK$1,62 trilioni
- Utile netto aumentato dell'8,0% su base annua, a HK$1.209,3 milioni (US$154,9 milioni)
Futu ha alzato le previsioni per il 2024 a 550.000 nuovi clienti paganti. L'azienda ha anche lanciato il trading di criptovalute a Hong Kong e Singapore, riscontrando una forte crescita nella gestione patrimoniale, con gli attivi totali in questo segmento aumentati dell'83,6% su base annua.
Futu Holdings (FUTU) reportó resultados sólidos en el segundo trimestre de 2024, con ingresos totales que aumentaron un 25.9% en comparación al año anterior, alcanzando HK$3,129.0 millones (US$400.7 millones). La compañía vio un crecimiento significativo en métricas clave:
- Clientes que pagan aumentaron un 28.8% interanual, alcanzando 2,042,313
- Activos totales de los clientes aumentaron un 24.3% interanual, alcanzando HK$579.3 mil millones
- Volumen de negociación aumentó un 69.0% interanual, alcanzando HK$1.62 trillones
- Ingreso neto aumentó un 8.0% interanual, alcanzando HK$1,209.3 millones (US$154.9 millones)
Futu elevó su guía para 2024 a 550,000 nuevos clientes que pagan. La compañía también lanzó el trading de criptomonedas en Hong Kong y Singapur, y vio un fuerte crecimiento en la gestión de patrimonio, con activos totales en este segmento que aumentaron un 83.6% interanual.
Futu Holdings (FUTU)는 2024년 2분기 실적이 강력하다고 보고했으며, 총 매출이 전년 대비 25.9% 증가하여 HK$3,129.0 백만 (US$400.7 백만)에 도달했습니다. 회사는 주요 지표에서 상당한 성장을 보였습니다:
- 유료 고객 수가 전년 대비 28.8% 증가하여 2,042,313명에 도달
- 총 고객 자산이 전년 대비 24.3% 증가하여 HK$579.3 억
- 거래량이 전년 대비 69.0% 증가하여 HK$1.62 조
- 순이익이 전년 대비 8.0% 증가하여 HK$1,209.3 백만 (US$154.9 백만)
Futu는 2024년 새로운 유료 고객을 550,000명으로 예상했습니다. 또한, 회사는 홍콩과 싱가포르에서 암호화폐 거래를 시작했으며, 자산 관리 부문에서 고객 자산이 전년 대비 83.6% 증가하는 등 강력한 성장을 보였습니다.
Futu Holdings (FUTU) a annoncé des résultats solides pour le deuxième trimestre de 2024, avec des revenus totaux en hausse de 25,9 % par rapport à l'année précédente, atteignant 3 129,0 millions HK$ (400,7 millions USD). L'entreprise a connu une croissance significative dans des indicateurs clés :
- Clients payants en hausse de 28,8 % par rapport à l'année précédente, atteignant 2 042 313
- Actifs totaux des clients en hausse de 24,3 % par rapport à l'année précédente, atteignant 579,3 milliards HK$
- Volume de négociation en hausse de 69,0 % par rapport à l'année précédente, atteignant 1,62 billion HK$
- Revenu net en hausse de 8,0 % par rapport à l'année précédente, atteignant 1 209,3 millions HK$ (154,9 millions USD)
Futu a relevé ses prévisions pour 2024 à 550 000 nouveaux clients payants. L'entreprise a également lancé le trading de cryptomonnaies à Hong Kong et à Singapour, et a constaté une forte croissance dans la gestion de patrimoine, avec des actifs totaux dans ce segment augmentant de 83,6 % par rapport à l'année précédente.
Futu Holdings (FUTU) berichtete von starken Ergebnissen im 2. Quartal 2024, mit einem Anstieg der Gesamterlöse um 25,9% im Vergleich zum Vorjahr auf HK$3.129,0 Millionen (US$400,7 Millionen). Das Unternehmen verzeichnete ein signifikantes Wachstum in wichtigen Kennzahlen:
- Zahlende Kunden erhöhten sich um 28,8% im Jahresvergleich auf 2.042.313
- Gesamtvermögen der Kunden stieg um 24,3% im Jahresvergleich auf HK$579,3 Milliarden
- Handelsvolumen erhöhte sich um 69,0% im Jahresvergleich auf HK$1,62 Billionen
- Nettogewinn stieg um 8,0% im Jahresvergleich auf HK$1.209,3 Millionen (US$154,9 Millionen)
Futu hob seine Prognose für 2024 auf 550.000 neue zahlende Kunden an. Das Unternehmen launchte auch den Handel mit Kryptowährungen in Hongkong und Singapur und verzeichnete ein starkes Wachstum im Vermögensmanagement, wobei die Gesamtvermögen in diesem Segment um 83,6% im Jahresvergleich zunahm.
- Total revenues increased 25.9% year-over-year to HK$3,129.0 million
- Paying clients grew 28.8% year-over-year to 2,042,313
- Total client assets increased 24.3% year-over-year to HK$579.3 billion
- Total trading volume increased by 69.0% year-over-year to HK$1.62 trillion
- Net income increased 8.0% year-over-year to HK$1,209.3 million
- Raised guidance to 550,000 new paying clients in 2024
- Launched cryptocurrency trading in Hong Kong and Singapore
- Wealth management client assets up 83.6% year-over-year
- Operating margin declined to 47.3% from 50.6% in Q2 2023
- Net income margin declined to 38.6% from 45.1% in Q2 2023
- Gross margin decreased to 81.6% from 84.9% in Q2 2023
Insights
Futu's Q2 2024 results demonstrate robust growth across key metrics. The 25.9% year-over-year revenue increase to
However, the declining gross margin (81.6% vs 84.9% YoY) and operating margin (47.3% vs 50.6% YoY) suggest increasing costs. The 53.4% increase in total costs outpaced revenue growth, primarily due to higher interest expenses and brokerage-related costs. This could pressure profitability if not managed carefully.
The company's raised guidance for new paying clients in 2024 and strong net asset inflow are positive indicators for future growth. The expansion into cryptocurrency trading in Hong Kong and Singapore could provide additional revenue streams, but also introduces new risks.
Futu's performance reflects broader market trends and changing investor behaviors. The 69.0% increase in total trading volume to
The company's strong growth in Hong Kong and Singapore, coupled with its expansion into cryptocurrency trading, positions it well in the evolving Asian financial markets. The 83.6% year-over-year increase in wealth management assets to
Futu's success in IPO distributions, underwriting seven of the ten largest Hong Kong IPO listings in H1 2024, demonstrates its growing influence in the primary market. This could lead to increased market share and client acquisition opportunities in the future.
Futu's tech-driven approach is evident in its operational metrics. The 13.3% year-over-year increase in total users to 23.3 million showcases the platform's growing popularity. However, the
The company's focus on research and development, with a
The platform's ability to handle increased trading volumes efficiently (67.4% year-over-year increase in DARTs) while maintaining service quality is a testament to its robust technological foundation. This scalability will be important for sustaining growth and entering new markets.
HONG KONG, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 Operational Highlights
- Total number of paying clients1 increased
28.8% year-over-year to 2,042,313 as of June 30, 2024. - Total number of registered clients2 increased
19.1% year-over-year to 4,045,703 as of June 30, 2024. - Total number of users3 increased
13.3% year-over-year to 23.3 million as of June 30, 2024. - Total client assets increased
24.3% year-over-year to HK$579.3 billion as of June 30, 2024. - Daily average client assets were HK
$560.0 billion in the second quarter of 2024, an increase of24.4% from the same period in 2023. - Total trading volume in the second quarter of 2024 increased by
69.0% year-over-year to HK$1.62 trillion , in which trading volume for U.S. stocks was HK$1.24 trillion , and trading volume for Hong Kong stocks was HK$357.6 billion . - Daily average revenue trades (DARTs)4 in the second quarter of 2024 increased
67.4% year-over-year to 652,286. - Margin financing and securities lending balance increased
28.8% year-over-year to HK$43.8 billion as of June 30, 2024.
Second Quarter 2024 Financial Highlights
- Total revenues increased
25.9% year-over-year to HK$3,129.0 million (US$400.7 million ). - Total gross profit increased
21.1% year-over-year to HK$2,554.7 million (US$327.2 million ). - Net income increased
8.0% year-over-year to HK$1,209.3 million (US$154.9 million ). - Non-GAAP adjusted net income5 increased
8.6% year-over-year to HK$1,296.2 million (US$166.0 million ).
Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, said, “We ended the second quarter with over two million paying clients, representing a
“New paying clients in Hong Kong and Singapore both recorded double-digit sequential growth amid market rebound, collectively contributing to over one-third of paying client growth in the second quarter. We recently launched cryptocurrency trading in these two markets to help our clients diversify their assets. The penetration of crypto in Hong Kong and Singapore has room for growth compared to other markets, and we intend to drive adoption with our competitive pricing and high brand trust. In Japan, new paying clients grew by double-digit quarter-over-quarter as we continued to strengthen product offerings, iterate on marketing initiatives and increase our brand awareness. Malaysia still contributed the most new paying clients among all markets in the second quarter despite sequential deceleration.”
“Robust net asset inflow, coupled with favorable mark-to-market impact on client holdings, boosted total client assets to a record HK
“Total trading volume was HK
“Total client assets in wealth management leaped
“We had 451 IPO distribution and IR clients, up
Second Quarter 2024 Financial Results
Revenues
Total revenues were HK
Brokerage commission and handling charge income was HK
Interest income was HK
Other income was HK
Costs
Total costs were HK
Brokerage commission and handling charge expenses were HK
Interest expenses were HK
Processing and servicing costs were HK
Gross Profit
Total gross profit was HK
Operating Expenses
Total operating expenses were HK
Research and development expenses were HK
Selling and marketing expenses were HK
General and administrative expenses were HK
Income from Operations
Income from operations increased by
Net Income
Net income increased by
Non-GAAP adjusted net income increased by
Net Income per ADS
Basic net income per American Depositary Share (“ADS”) was HK
Conference Call and Webcast
Futu's management will hold an earnings conference call on Tuesday, August 20, 2024, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).
Please note that all participants will need to pre-register for the conference call, using the link
https://register.vevent.com/register/BI800b9bad2caa4efdb3a6e4d57f8dcfe2.
It will automatically lead to the registration page of "Futu Holdings Ltd Second Quarter 2024 Earnings Conference Call", where details for RSVP are needed.
Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.
Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/.
About Futu Holdings Limited
Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines non-GAAP adjusted net income as net income excluding share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Non-GAAP adjusted net income enables the management to assess the Company's operating results without considering the impact of share-based compensation expenses, which are non-cash charges. The Company also believes that the use of the non-GAAP measure facilitates investors' assessment of its operating performance.
Non-GAAP adjusted net income is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company's operations. Share-based compensation expenses have been and may continue to be incurred in the business and is not reflected in the presentation of non-GAAP adjusted net income. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.
The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance.
For more information on this non-GAAP financial measure, please see the table captioned "Unaudited Reconciliations of Non-GAAP and GAAP Results" set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain HK dollars (“HK$”) amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu's goal and strategies; Futu's expansion plans; Futu's future business development, financial condition and results of operations; Futu's expectations regarding demand for, and market acceptance of, its credit products; Futu's expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor inquiries, please contact:
Investor Relations
Futu Holdings Limited
ir@futuholdings.com
___________________
1 The number of paying clients refers to the number of clients with assets in their trading accounts with Futu.
2 The number of registered clients refers to the number of users with one or more trading accounts with Futu.
3 The number of users refers to the number of user accounts registered with Futu.
4 The number of Daily Average Revenue Trades (DARTs) refers to the number of average trades per day that generate commissions or fees.
5 Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses.
FUTU HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except for share and per share data) | |||||
As of December 31, | As of June 30, | ||||
2023 | 2024 | 2024 | |||
HK$ | HK$ | US$ | |||
ASSETS | |||||
Cash and cash equivalents | 4,937,538 | 9,378,747 | 1,201,125 | ||
Cash held on behalf of clients | 44,369,310 | 51,181,840 | 6,554,799 | ||
Restricted cash | 1,232 | 1,202 | 154 | ||
Term deposit | 5,540 | 4,900 | 628 | ||
Short-term investments | 3,114,613 | 3,056,249 | 391,410 | ||
Securities purchased under agreements to resell | 133,039 | 242,727 | 31,086 | ||
Loans and advances-current (net of allowance of HK | 32,528,421 | 42,788,600 | 5,479,887 | ||
Receivables: | |||||
Clients | 293,505 | 615,866 | 78,873 | ||
Brokers | 5,189,155 | 7,901,932 | 1,011,991 | ||
Clearing organizations | 4,244,793 | 2,455,974 | 314,534 | ||
Fund management companies and fund distributors | 151,691 | 248,502 | 31,825 | ||
Interest | 268,504 | 308,198 | 39,471 | ||
Prepaid assets | 54,691 | 80,072 | 10,255 | ||
Other current assets | 135,479 | 154,837 | 19,830 | ||
Total current assets | 95,427,511 | 118,419,646 | 15,165,868 | ||
Operating lease right-of-use assets | 224,092 | 260,768 | 33,396 | ||
Long-term investments | 238,556 | 663,003 | 84,910 | ||
Loans and advances-non-current | 18,934 | 18,917 | 2,423 | ||
Other non-current assets | 1,226,754 | 1,523,353 | 195,094 | ||
Total non-current assets | 1,708,336 | 2,466,041 | 315,823 | ||
Total assets | 97,135,847 | 120,885,687 | 15,481,691 | ||
LIABILITIES | ||||||||
Amounts due to related parties | 69,018 | 94,630 | 12,119 | |||||
Payables: | ||||||||
Clients | 48,762,263 | 53,191,185 | 6,812,134 | |||||
Brokers | 15,648,286 | 30,303,720 | 3,880,963 | |||||
Clearing organizations | 24,096 | 1,815,360 | 232,491 | |||||
Fund management companies and fund distributors | 175,575 | 202,008 | 25,871 | |||||
Interest | 44,109 | 60,274 | 7,719 | |||||
Borrowings | 5,651,565 | 5,277,497 | 675,883 | |||||
Securities sold under agreements to repurchase | - | 309,190 | 39,598 | |||||
Lease liabilities-current | 114,682 | 131,279 | 16,813 | |||||
Accrued expenses and other current liabilities | 1,939,004 | 2,447,037 | 313,389 | |||||
Total current liabilities | 72,428,598 | 93,832,180 | 12,016,980 | |||||
Lease liabilities-non-current | 123,335 | 143,883 | 18,427 | |||||
Other non-current liabilities | 12,183 | 11,082 | 1,420 | |||||
Total non-current liabilities | 135,518 | 154,965 | 19,847 | |||||
Total liabilities | 72,564,116 | 93,987,145 | 12,036,827 | |||||
SHAREHOLDERS’ EQUITY | ||||||||
Class A ordinary shares | 71 | 71 | 9 | |||||
Class B ordinary shares | 27 | 27 | 3 | |||||
Additional paid-in capital | 18,456,438 | 18,636,070 | 2,386,700 | |||||
Treasury Stock | (5,199,257 | ) | (5,199,257 | ) | (665,863 | ) | ||
Accumulated other comprehensive loss | (49,433 | ) | (146,668 | ) | (18,784 | ) | ||
Retained earnings | 11,360,890 | 13,611,218 | 1,743,173 | |||||
Total shareholders' equity | 24,568,736 | 26,901,461 | 3,445,238 | |||||
Non-controlling interest | 2,995 | (2,919 | ) | (374 | ) | |||
Total equity | 24,571,731 | 26,898,542 | 3,444,864 | |||||
Total liabilities and equity | 97,135,847 | 120,885,687 | 15,481,691 | |||||
FUTU HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In thousands, except for share and per share data) | |||||||||||||||||
For the Three Months Ended | For the Six Months Ended | ||||||||||||||||
June 30, 2023 | June 30, 2024 | June 30, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2024 | ||||||||||||
HK$ | HK$ | US$ | HK$ | HK$ | US$ | ||||||||||||
Revenues | |||||||||||||||||
Brokerage commission and handling charge income | 952,615 | 1,376,300 | 176,262 | 2,031,926 | 2,458,407 | 314,845 | |||||||||||
Interest income | 1,405,716 | 1,591,654 | 203,841 | 2,699,976 | 2,945,820 | 377,268 | |||||||||||
Other income | 126,557 | 161,032 | 20,623 | 252,839 | 317,218 | 40,626 | |||||||||||
Total revenues | 2,484,888 | 3,128,986 | 400,726 | 4,984,741 | 5,721,445 | 732,739 | |||||||||||
Costs | |||||||||||||||||
Brokerage commission and handling charge expenses | (55,341 | ) | (87,238 | ) | (11,173 | ) | (127,587 | ) | (147,539 | ) | (18,895 | ) | |||||
Interest expenses | (220,386 | ) | (377,625 | ) | (48,362 | ) | (351,226 | ) | (690,467 | ) | (88,427 | ) | |||||
Processing and servicing costs | (98,807 | ) | (109,436 | ) | (14,015 | ) | (186,531 | ) | (206,539 | ) | (26,451 | ) | |||||
Total costs | (374,534 | ) | (574,299 | ) | (73,550 | ) | (665,344 | ) | (1,044,545 | ) | (133,773 | ) | |||||
Total gross profit | 2,110,354 | 2,554,687 | 327,176 | 4,319,397 | 4,676,900 | 598,966 | |||||||||||
Operating expenses | |||||||||||||||||
Research and development expenses | (363,348 | ) | (373,943 | ) | (47,890 | ) | (718,247 | ) | (709,430 | ) | (90,856 | ) | |||||
Selling and marketing expenses | (174,925 | ) | (338,332 | ) | (43,330 | ) | (316,203 | ) | (630,996 | ) | (80,811 | ) | |||||
General and administrative expenses | (313,518 | ) | (362,105 | ) | (46,375 | ) | (621,411 | ) | (663,440 | ) | (84,966 | ) | |||||
Total operating expenses | (851,791 | ) | (1,074,380 | ) | (137,595 | ) | (1,655,861 | ) | (2,003,866 | ) | (256,633 | ) | |||||
Income from operations | 1,258,563 | 1,480,307 | 189,581 | 2,663,536 | 2,673,034 | 342,333 | |||||||||||
Others, net | 74,693 | (42,616 | ) | (5,458 | ) | 66,961 | (10,875 | ) | (1,393 | ) | |||||||
Income before income tax expense and share of loss from equity method investments | 1,333,256 | 1,437,691 | 184,123 | 2,730,497 | 2,662,159 | 340,940 | |||||||||||
Income tax expense | (209,467 | ) | (216,726 | ) | (27,755 | ) | (411,168 | ) | (402,367 | ) | (51,531 | ) | |||||
Share of loss from equity method investments | (4,228 | ) | (11,667 | ) | (1,494 | ) | (7,923 | ) | (15,361 | ) | (1,967 | ) | |||||
Net income | 1,119,561 | 1,209,298 | 154,874 | 2,311,406 | 2,244,431 | 287,442 | |||||||||||
Attributable to: | |||||||||||||||||
Ordinary shareholders of the Company | 1,119,741 | 1,212,190 | 155,244 | 2,311,784 | 2,250,328 | 288,197 | |||||||||||
Non-controlling interest | (180 | ) | (2,892 | ) | (370 | ) | (378 | ) | (5,897 | ) | (755 | ) | |||||
1,119,561 | 1,209,298 | 154,874 | 2,311,406 | 2,244,431 | 287,442 | ||||||||||||
Net income per share attributable to ordinary shareholders of the Company | |||||||||||||||||
Basic | 1.01 | 1.10 | 0.14 | 2.08 | 2.04 | 0.26 | |||||||||||
Diluted | 1.00 | 1.08 | 0.14 | 2.06 | 2.01 | 0.26 | |||||||||||
Net income per ADS | |||||||||||||||||
Basic | 8.07 | 8.79 | 1.13 | 16.61 | 16.32 | 2.09 | |||||||||||
Diluted | 7.99 | 8.66 | 1.11 | 16.44 | 16.11 | 2.06 | |||||||||||
Weighted average number of ordinary shares used in computing net income per share | |||||||||||||||||
Basic | 1,110,112,831 | 1,103,489,111 | 1,103,489,111 | 1,113,421,781 | 1,103,209,443 | 1,103,209,443 | |||||||||||
Diluted | 1,120,734,239 | 1,119,409,062 | 1,119,409,062 | 1,124,704,502 | 1,117,436,747 | 1,117,436,747 | |||||||||||
Net income | 1,119,561 | 1,209,298 | 154,874 | 2,311,406 | 2,244,431 | 287,442 | |||||||||||
Other comprehensive income, net of tax | |||||||||||||||||
Foreign currency translation adjustment | (169,876 | ) | (67,811 | ) | (8,684 | ) | (58,441 | ) | (97,252 | ) | (12,455 | ) | |||||
Total comprehensive income | 949,685 | 1,141,487 | 146,190 | 2,252,965 | 2,147,179 | 274,987 | |||||||||||
Attributable to: | |||||||||||||||||
Ordinary shareholders of the Company | 949,869 | 1,144,361 | 146,557 | 2,253,344 | 2,153,093 | 275,744 | |||||||||||
Non-controlling interest | (184 | ) | (2,874 | ) | (367 | ) | (379 | ) | (5,914 | ) | (757 | ) | |||||
949,685 | 1,141,487 | 146,190 | 2,252,965 | 2,147,179 | 274,987 | ||||||||||||
FUTU HOLDINGS LIMITED UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS (In thousands) | |||||||||||
For the Three Months Ended | For the Six Months Ended | ||||||||||
June 30, 2023 | June 30, 2024 | June 30, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2024 | ||||||
HK$ | HK$ | US$ | HK$ | HK$ | US$ | ||||||
Net income | 1,119,561 | 1,209,298 | 154,874 | 2,311,406 | 2,244,431 | 287,442 | |||||
Add: Share-based compensation expenses | 73,832 | 86,855 | 11,123 | 149,942 | 172,793 | 22,129 | |||||
Adjusted net income | 1,193,393 | 1,296,153 | 165,997 | 2,461,348 | 2,417,224 | 309,571 | |||||
Non-GAAP to GAAP reconciling items have no income tax effect.
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