Futu Holdings Limited - FUTU STOCK NEWS

Futu Holdings Limited (Nasdaq: FUTU) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2022. The document is available on the Company’s investor relations website. Shareholders and ADS holders can request a free copy of the annual report containing audited consolidated financial statements by contacting the Investor Relations Department. Futu is a technology-focused online brokerage and wealth management platform that offers a variety of financial services like trading, margin financing, and wealth management through its digital platforms, Futubull and moomoo. The Company integrates social media tools to enhance user connectivity and offers corporate services, including IPO distribution.

Moomoo, a financial services platform, announced their virtual paper trading competition running from April 1 to April 30, 2023, as part of Financial Literacy Month. Participants can engage in simulated trading using $100,000 in virtual funds, allowing them to practice trading strategies without financial risk. To participate, users must download the moomoo app and register for the competition. The top 20 performers will receive cash coupons and all participants can access a one-month free trial of Benzinga Pro. Moomoo, a subsidiary of Futu Holdings Limited, aims to enhance financial education for its users.

Futu Holdings Limited (NASDAQ: FUTU) reported robust financial results for Q4 2022, with total revenues reaching US$292.3 million, a 42.3% year-over-year increase. The full-year results also showcased growth, totaling US$976 million in revenues. Key performance indicators included a 90.2% increase in non-GAAP adjusted net income to US$130 million for Q4, and a client assets surge to US$53.5 billion. Moomoo achieved significant user growth, expanding total users by 12.7% to 19.58 million, while its client engagement and wealth management segments demonstrated strong momentum, contributing to these positive outcomes.

Futu Holdings Limited (Nasdaq: FUTU) reported strong financial results for Q4 and FY 2022. For Q4, total revenues reached HK$2,280.7 million, up 42.3% year-over-year, while net income surged 92.2% to HK$958.7 million. The company added over 240,000 paying clients in 2022, increasing the total to nearly 1.5 million. Despite challenges, total client assets rose 2.4% to HK$417.5 billion. However, trading volumes declined significantly, falling 10.9% year-over-year in Q4. The board has authorized a US$500 million stock repurchase program and has repurchased 8 million ADSs as of year-end.

Futu Holdings Limited (Nasdaq: FUTU) is set to announce its financial results for the fourth quarter and full year ending December 31, 2022, on March 28, 2023, before U.S. markets open. An earnings conference call will follow at 7:30 AM ET, where management will discuss the results. To participate, attendees must pre-register through the provided link. Futu operates a tech-driven online brokerage and wealth management platform, primarily serving the emerging affluent market, utilizing its Futubull and moomoo applications for trading and investment services, including margin financing and securities lending.

On February 14, 2023, Moomoo released its 2023 U.S. Investor Survey, revealing that retail investors remain active despite recession fears and inflation concerns. The survey, conducted among 770 users, indicates that 61.6% experienced trading losses in 2022, yet 76% plan to increase their investments this year. A significant 62% believe a recession has already begun. Investors are particularly optimistic about technology, energy, and healthcare sectors, with many intending to use 'buy the dip' strategies. Moomoo also unveiled key app features aimed at enhancing investment decision-making, showcasing its commitment to user feedback and innovation.