Welcome to our dedicated page for Futu Holdings American Depositary Shares news (Ticker: FUTU), a resource for investors and traders seeking the latest updates and insights on Futu Holdings American Depositary Shares stock.
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 Limited (Nasdaq: FUTU) reported its unaudited financial results for Q3 2021, showcasing robust growth despite market challenges. Total revenues soared by 83.0% year-over-year to HK$1,731.1 million (US$222.4 million), with net income increasing by 53.1% to HK$615.2 million (US$79.0 million). The company saw a 179.2% growth in paying clients, reaching 1,167,204, and total client assets rose to HK$423.9 billion. However, total client assets faced a 15.8% decline quarter-over-quarter due to market depreciation.
Futu Holdings Limited (Nasdaq: FUTU) will report its third-quarter financial results for the period ending September 30, 2021, on November 24, 2021, before U.S. markets open. An earnings conference call is scheduled for the same day at 7:30 AM U.S. Eastern Time. Participants must pre-register online to join the call. After the call, a telephone replay will be available until December 1, 2021. Futu is a leading online brokerage and wealth management platform, providing a fully digitized experience for investors through its applications, Futubull and moomoo.
Futu Holdings Limited (Nasdaq: FUTU) has announced a $300 million share repurchase program for its American depositary shares (ADSs), set to run until December 31, 2022. The program allows for purchases via open market and private transactions, subject to market conditions and company needs. This move is expected to enhance shareholder value and reflect the company's confidence in its ongoing business model. Funding for the repurchase will come from existing cash reserves.
Futu Holdings Limited (Nasdaq: FUTU) addressed concerns raised by a Chinese media outlet regarding its ability to manage investors' personal data for cross-border trading under the new Personal Information Protection Law (PIPL) effective November 1, 2021. The company confirmed compliance with regulatory requirements and highlighted its commitment to data protection. Futu has completed necessary rectifications since 2019 and continues to monitor regulatory updates. It emphasizes cybersecurity measures and regular inspections to safeguard personal information.
Moomoo, a smart investing platform, has announced its sponsorship of the FinTwit 2021 Conference, taking place from October 8-10, 2021, in Orlando, Florida. Hosted by entrepreneur Jonah Lupton, the event will feature key opinion leaders from the investing community, offering networking and educational opportunities. Attendees will engage in discussions on various investing strategies and trends. Moomoo aims to enhance the investing experience with its innovative tools and has previously partnered with Benzinga for media support. For tickets, visit fintwit2021.com.
Futu Holdings Limited (Nasdaq: FUTU) announced the resignation of Mr. Eric Chi Zhang from its board of directors, effective September 14, 2021, due to personal reasons. His departure does not stem from disagreements with the company. Chairman and CEO Leaf Hua Li expressed gratitude for Mr. Zhang's contributions. Futu is a tech-driven online brokerage and wealth management platform, serving the emerging affluent with services like trade execution and margin financing through its apps, Futubull and moomoo.
Futu Holdings Limited (Nasdaq: FUTU) reported impressive Q2 financial results for the period ending June 30, 2021. Total revenues soared by 129.3% YoY to $203.1 million, marking six consecutive quarters of triple-digit growth. Non-GAAP adjusted net income rose 126.7% YoY to $70.9 million. User growth was significant, with 15.5 million total users and a 230.2% increase in paying clients to 1 million. Additionally, Futu secured an S&P investment grade credit rating of BBB- and was added to the MSCI Hong Kong Index.
Futu Holdings Limited (Nasdaq: FUTU) reported robust operational and financial growth for Q2 2021. Total revenues reached HK$1,576.9 million, up 129.3% year-over-year, while net income rose 125.8% to HK$533.9 million. The number of paying clients surged 230.2% to 1,000,795, and client assets increased by 253.5% to HK$503.2 billion. Key growth drivers included a significant rise in trading volume, particularly in US stocks, and enhancements in wealth management offerings. The company aims to leverage its market position in Hong Kong and expand in Singapore.
Futu Holdings Limited (NASDAQ: FUTU) announced it will report its Q2 2021 financial results before U.S. markets open on August 31, 2021. The company will hold an earnings conference call the same day at 7:30 AM U.S. Eastern Time. Participants need to pre-register for the call and will receive confirmation emails with access details. Following the call, a replay will be available until September 8, 2021. Futu is transforming the investment experience through its digitized brokerage platform, serving the emerging affluent population in wealth management.
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