Futu Announces Q4 and Full Year 2024 Results: Q4 Net Income Up 105% YoY as Global Business Accelerates

Futu Holdings Limited ("Futu" or the "Company") (Nasdaq: FUTU) announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2024.

In Q4, Futu's total revenues reached HK$4.43 billion (US$570.6 million), marking a year-over-year ("YoY") increase of 86.8%; its non-GAAP net income reached HK$1.95 billion (US$251.3 million), growing by 105.4% YoY. In terms of different businesses, its brokerage commission and handling charge income amounted to HK$2.06 billion (US$264.9 million), up 127.6% YoY; interest income was HK$2.02 billion (US$260.3 million), rising by 51.8% YoY; other income (including income from wealth management and corporate services businesses) totaled HK$352.8 million (US$45.4 million), up 157% YoY.

For the full year of 2024, Futu's total revenues was HK$13.59 billion (US$1.75 billion), and its non-GAAP net income reached HK$5.77 billion (US$742.6 million), representing a growth of 35.8% and 26.2% YoY, respectively.

By the end of the year, Futu's user base grew by 16% YoY to 25.15 million, and registered clients rose by 29% YoY to 4.58 million. The Company's paying clients totaled 2.41 million, representing a growth of 41% YoY. Client assets reached HK$743.3 billion (US$95.7 billion), up 53% YoY.

Focusing on global expansion, Futu sustained growth momentum across all the markets in which it operates. Fueled by upward stock market performance in Q4, Futu's quarterly trading volume across its platforms reached HK$2.9 trillion, an all-time high. Specifically, the trading volume for Hong Kong stocks reached over HK$750 billion, marking a three-year peak, while that for US stocks surpassed HK$2 trillion, setting a new record for one single quarter. Additionally, assets under the Company's wealth management sector reached HK$110.8 billion.

Mr. Leaf Hua Li, Futu's Founder, Chairman, CEO & Chairman of the Technology Committee, said: "2024 marks a year of breakthrough in Futu's global expansion journey. In Hong Kong, we're expanding and enhancing our offerings, and with the support of local investors, we have achieved over 50% market penetration, a success underlining Futu's prominent role in advancing local fintech developments. In other markets, we continued to offer tailored solutions, addressing local investors' needs through cutting-edge tools and localized services. With the rapid development and evolution of artificial intelligence, we will continuously prioritize innovation in our strategy, leveraging advanced technologies to further enhance our platforms and offerings to elevate investment experience and deliver values to investors across the world."

687K Views