Futu Announces Q2 2024 Results: Total Revenues Up 25.9% YoY, with Enhanced Strategic Diversification

Futu Holdings Limited ("Futu" or the "Company") today announced its unaudited financial results for the second quarter ended June 30, 2024 (the "Period").

In the second quarter, Futu's total revenues reached HK$3,129.0 million (US$400.7 million), up 25.9% year-over-year ("YoY"); its non-GAAP net income reached HK$1,296.2 million (US$166.0 million), up 8.6% YoY. In terms of different businesses, its brokerage commission and handling charge income totaled HK$1,376.3 million (US$176.3 million), up 44.5% YoY; interest income reached HK$1,591.7 million (US$203.8 million), up 13.2% YoY; other income (including income from wealth management and corporate services businesses) amounted to HK$161.0 million (US$20.6 million), up 27.2% YoY.

By the end of this Period, Futubull and moomoo's users grew 13.3% YoY to 23.26 million; registered clients rose 19.1% YoY to 4.05 million; paying clients increased 28.8% YoY to 2.04 million. Over 155,000 new paying clients were added in the quarter, representing a 167.8% increase over the previous year. Client assets reached HK$579.3 billion (US$74.19 billion). Total trading volume approximated HK$1.6 trillion (US$207.7 billion). The client retention rate stayed high at above 98%.

Futu maintained stable growth in Hong Kong ("HK"), securing its position as the local industry leader. The numbers of users, paying clients, as well as market penetration remained in an uptrend, and the deposits from clients strongly increased. Furthermore, the Company continued the strong momentum in various overseas markets. In Singapore, moomoo, Futu's overseas independent brand, saw the number of its users surpass one million, and posted double-digit sequential growth in client assets for eight consecutive quarters, doubling YoY. The US and Australia recorded sustainable growth, with double-digit quarter-over-quarter ("QoQ") growth in client assets. In markets such as Canada, Japan, and Malaysia, the numbers of paying clients all posted high double-digit growth QoQ.

Thanks to its diverse offerings and the overall uptrend in stock markets, Futu achieved a remarkable increase in trading activities on its platforms. The global trading volume and daily average revenue trades ("DARTs") of HK and US stocks hit one-year highs, contributing significantly to growth in the second quarter. Meanwhile, as a one-stop investment platform, Futu continued its diversification strategy by launching new products and services in multiple markets, empowering investors worldwide.