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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), a leading tech-driven online brokerage and wealth management platform, has announced it will report its financial results for the second quarter ended June 30, 2024, before U.S. markets open on August 20, 2024. The company will hold an earnings conference call on the same day at 7:30 AM U.S. Eastern Time (7:30 PM Beijing/Hong Kong Time).
Participants must pre-register for the conference call using the provided link. Upon registration, they will receive confirmation emails with dial-in numbers and personal PINs. A live and archived webcast of the call will be available on Futu's investor relations website.
Moomoo, an investment and trading platform, has released its 2024 second-quarter U.S. users survey results. The survey reveals that investors are trading more frequently and profiting more compared to last year, despite concerns about inflation and confidence. With U.S. markets near all-time highs, investors have adopted a more neutral stance, anticipating a possible recession and divided opinions on AI stock valuations.
Key findings include:
- 84% of surveyed investors believe technology stocks could outperform other sectors in the second half of 2024
- The S&P 500 was up almost 33% as of June 28, 2024, after its recent bottom in October 2023
- The Nasdaq 100 index was up almost 40%, primarily driven by gains in AI stocks
Justin Zacks, VP of Strategy at Moomoo Technologies Inc., noted that while many investors have benefited from market highs, there's a cautious tone due to uncertainties surrounding inflation, elections, recession, and interest rates.
Moomoo, a trading platform, has partnered with TradingView, a well-known charting and trading platform. This collaboration allows moomoo customers to trade directly from TradingView, accessing advanced charting tools and technical analytics. Moomoo provides its users with free investment courses, educational materials, and interactive events. The platform also hosts forums, trending topics, webinars, and seminars for community engagement. This partnership aims to enhance the user experience by integrating TradingView’s analytical tools and social network, expanding moomoo’s reach to millions of TradingView users.
Futu Holdings (Nasdaq: FUTU), a tech-driven online brokerage and wealth management platform, announced that its subsidiary, Futu Securities International (Hong Kong) , has upgraded its Type 1 license. Granted by the Hong Kong Securities and Futures Commission (SFC), this upgrade allows Futu Securities to offer virtual asset dealing services to retail and professional investors in Hong Kong. This development aims to expand Futu's service offerings and enhance its market position in the rapidly growing virtual asset sector.
Futu Holdings, a tech-driven online brokerage and wealth management platform, announced that its wealth management business has surpassed $10 billion in assets under management (AUM). The company offers mutual funds, private funds, bonds, and structured notes to clients in Hong Kong and Singapore. Additionally, its subsidiary, Moomoo Securities Malaysia, has received approval for Institutional UTS Adviser (IUTA) registration from the Federation of Investment Managers Malaysia to distribute wealth management products in Malaysia.
Futu Holdings, a tech-driven online brokerage and wealth management platform, announced a HKD440 million investment in Gravitation Fintech HK , the parent company of Airstar Bank.
This investment makes Futu the second largest beneficial owner with an indirect 44.11% stake in Airstar Bank.
Futu Holdings announced its unaudited financial results for Q1 2024, showcasing a 3.7% year-over-year revenue increase to HK$2,592.5 million. The company's paying clients surged by 23.5% to 1.89 million. However, net income saw a decline of 13.1% to HK$1,035.1 million, and gross profit dropped by 3.9% to HK$2,122.2 million. Trading volume rose by 9.5% year-over-year to HK$1.3 trillion. Despite higher costs, Futu achieved a 6.0% increase in daily average client assets to HK$480 billion and a notable 72.8% year-over-year growth in wealth management assets to HK$64.0 billion. CEO Leaf Hua Li cited strong market performance and new market expansion as key growth drivers.
Futu Holdings (Nasdaq: FUTU), a tech-driven online brokerage and wealth management platform, will announce its Q1 2024 financial results before U.S. markets open on May 28, 2024.
An earnings conference call will be held on the same day at 7:30 AM U.S. Eastern Time (7:30 PM Beijing/Hong Kong Time).
Participants must pre-register via a provided link to receive dial-in numbers and personal PINs.
A live and archived webcast of the call will be available on Futu's investor relations website.
Futu Holdings announced that its moomoo app has reached one million downloads in Japan. Moomoo started offering U.S. stock trading in September 2023 and Japanese stock trading in Japan in March 2024. Futu's subsidiary, Moomoo Securities Japan Co., , holds the FIBO license in Japan and is a member of various financial associations.
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