Futu Posts Record Quarter Despite Regulatory Headwinds

Earnings
โดย Insider Monkey·US·Read original
Summary · why it matters

Futu Holdings Limited reported its strongest quarter ever, with total trading volume surpassing HK$6 trillion for the first time, even as asset outflows tied to new compliance rules affected its Mainland Chinese client base. Revenue climbed 35.6% year over year to HK$7.2 billion, net income rose 41.6% to HK$3.6 billion, and client assets grew 43.6% to HK$1.4 trillion. The company added 252,000 net new funded accounts, reached operating breakeven in Malaysia, and obtained a Type A securities license in Thailand, while its U.S. prediction markets generated over $200 million in trade volume in their first month. However, cumulative asset outflows from regulatory adjustments reached a mid-single-digit percentage of total client assets, customer acquisition costs rose to HK$2,600, and gross margin slipped to 86.3% from 87.4% a year earlier. Hedge fund ownership fell from 36 to 24 funds, and short interest stands at 9.16% of the float, yet the stock trades at a forward price-to-earnings ratio of 13.19.

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