Core Insights - Futu Holdings Ltd. reported Q2 2024 earnings with revenues of US$400.7 million, a 25.9% year-over-year increase, and non-GAAP adjusted net income of US$166.0 million, an 8.6% year-over-year increase [1] - The company reached 23.3 million global users, a 13.3% year-over-year increase, and two million paying clients, a 28.8% year-over-year increase [1] Financial Performance - Total client assets reached US$74.2 billion, an 11.9% quarter-over-quarter increase, with a client retention rate above 98% [2] - Total trading volume surged by 21.1% quarter-over-quarter, exceeding US$207.7 billion [2] Market Expansion and User Growth - Moomoo surpassed one million users in Singapore and achieved double-digit growth in client assets for eight consecutive quarters [5] - Significant progress was noted in Canada, Japan, and Malaysia, with high double-digit growth in account openings and paying clients [5] Stock Trading and Diversification - The company achieved one-year highs in US stock trading volume and daily active revenue trades (DARTs), with US stock trading volume increasing by 84.1% year-over-year [7] - Australian stock trading volume increased by 204% year-over-year, and Canadian stock trading volume rose by 106% quarter-over-quarter [8] Wealth Management and New Offerings - The wealth management business surpassed US$10 billion in assets under management (AUM), an 83.6% year-over-year increase [9] - The company launched crypto trading services in Singapore and Hong Kong, allowing trading of cryptocurrencies like Bitcoin and Ethereum [9] Strategic Partnerships and Innovations - Moomoo entered a global strategic partnership with Nasdaq to enhance market data and insights for investors [7] - The company expanded its family office services to cater to high-net-worth individuals, driving growth in private wealth management [10]

HONG KONG, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Operational Highlights Total number of paying clients1 increased 28.8% year-over-year to 2,042,313 as of June 30, 2024.Total number of registered clients2 increased 19.1% year-over-year to 4,045,703 as of June 30, 2024.T ...

HONG KONG, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited ("Futu" or the "Company") (NASDAQ:FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that it will report its financial results for the second quarter ended June 30, 2024, before U.S. markets open on August 20, 2024. Futu's management will hold an earnings conference call on Tuesday, August 20, 2024, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time). Please note that all ...

HONG KONG, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that it will report its financial results for the second quarter ended June 30, 2024, before U.S. markets open on August 20, 2024. Futu's management will hold an earnings conference call on Tuesday, August 20, 2024, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time). Please note that all ...

Investors with an interest in Technology Services stocks have likely encountered both Futu Holdings Limited Sponsored ADR (FUTU) and Amplitude, Inc. (AMPL) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes ...

Investment Rating - The report assigns a "Buy" rating to Futu Holdings (FUTU) with a target price of $88.68 per ADR [2] Core Viewpoints - Futu's globalization strategy, initiated in 2018, has driven significant growth across seven markets (Hong Kong, Singapore, US, Australia, Japan, Canada, Malaysia) with a CAGR of 51% in net profit from 2020-2023 [2] - The company's four core businesses (brokerage, wealth management, margin financing, and enterprise services) form a positive flywheel, enhancing customer stickiness and monetization potential [2] - Futu's strong R&D focus (15% R&D expense ratio) and self-licensing strategy (over 100 licenses globally) provide a competitive edge [2] Business Overview Brokerage Business - Futu's brokerage business leverages the "time machine effect" across different markets, with Hong Kong as its base (3.5% market share) and Singapore as a key growth market (25% estimated market share) [2] - The US market is strategically important but highly competitive, while Japan and Australia are in the growth phase [2] - Futu's brokerage revenue grew at a CAGR of 25% from 2020-2023 [2] Wealth Management - Futu's wealth management business, branded as "Elephant Wealth," focuses on high-quality and diversified product offerings, with significant growth potential in customer asset accumulation [2] - The business has seen a steady increase in customer assets, with a 12.4% share of total client AUM in Q1 2024 [19] Margin Financing - Margin financing is a pillar business for Futu, benefiting from rising interest rates and contributing to high interest income growth [2] - The business has shown steady growth, with interest income increasing significantly under the Fed's rate hike cycle [2] Enterprise Services - Futu provides comprehensive services to B2B clients, including IPO, IR/PR, and ESOP solutions, leveraging its technology to support companies throughout the listing process [2] - The enterprise services business helps Futu build long-term relationships with high-quality corporate clients and their employees [20] Financial Performance - Futu's revenue is projected to grow from HKD 7.6 billion in 2024E to HKD 14.5 billion in 2026E, with a CAGR of 13.5% [6] - Net profit is expected to increase from HKD 2.9 billion in 2024E to HKD 6.1 billion in 2026E, with a CAGR of 14.4% [6] - ROE is forecasted to remain stable at around 15% from 2024E to 2026E [6] Market Expansion Hong Kong Market - Futu dominates the online brokerage market in Hong Kong, ranking first in internet brokerage with a 3.41% market share in May 2024 [21] - The company has secured multiple licenses, including the rare Type 3 (leveraged foreign exchange trading) and Type 7 (automated trading services) licenses [33] Singapore and Malaysia - In Singapore, Futu's moomoo app ranks first in the financial app category, with a 25% market share among the target customer base [2] - The Malaysia market has shown rapid growth, with over 100,000 clients acquired within six weeks of launch [46] US Market - Futu obtained a full clearing license in the US in 2019, enabling it to provide clearing, settlement, and custody services independently [50] - The company focuses on differentiating itself through product experience and marketing, targeting the "middle market" between Robinhood and Charles Schwab [52] Japan Market - Futu entered the Japanese market with a focus on US stock trading, offering over 7,000 US stocks, the most among online brokers in Japan [58] - The company plans to expand its product offerings, including margin trading and fractional shares, to drive customer conversion [58] Australia and Canada - Futu's Australian and Canadian markets have shown strong customer acquisition, with Australian client assets growing 304% YoY in Q1 2024 [62] - Moomoo is ranked as the fourth-best online brokerage app in Australia and the top financial app in Canada's Google Play Store [62][63]

JERSEY CITY, N.J., July 15, 2024 /PRNewswire/ -- The intuitive investment and trading platform moomoo has recently completed a 2024 second-quarter U.S. users survey. Similar to last year, moomoo surveyed its users halfway through the year to find out how their investing journey has progressed to-date this year and learn what their expectations for the second half will be. Results showed that the investors in the survey are generally trading more often and gained more profits than at this time last year, but ...

Core Insights - Futu Holdings Limited Sponsored ADR (FUTU) is currently rated as a 1 (Strong Buy) by Zacks Rank, indicating a positive earnings outlook, while Thomson Reuters (TRI) holds a 3 (Hold) rating, suggesting a less favorable position for value investors [1] - The analysis of traditional valuation metrics shows that FUTU has a forward P/E ratio of 14.46 and a PEG ratio of 0.92, indicating it is undervalued compared to TRI, which has a forward P/E of 45.51 and a PEG ratio of 6.38 [2] - FUTU's P/B ratio stands at 3.23, significantly lower than TRI's P/B of 6.83, further supporting the conclusion that FUTU is a superior value option based on these metrics [3] Valuation Metrics - FUTU's forward P/E ratio is 14.46, while TRI's is 45.51, highlighting a substantial difference in valuation [2] - The PEG ratio for FUTU is 0.92, compared to TRI's 6.38, indicating that FUTU is expected to grow earnings at a more favorable rate relative to its price [2] - The P/B ratio for FUTU is 3.23, whereas TRI's P/B ratio is 6.83, suggesting that FUTU's market value is more aligned with its book value [3] Investment Outlook - The improving earnings outlook for FUTU, combined with its favorable valuation metrics, positions it as a more attractive investment opportunity compared to TRI [1][3]

JERSEY CITY, N.J., July 8, 2024 /PRNewswire/ -- The intuitive investment and trading platform moomoo, today announced its partnership with TradingView, a charting and trading platform and social network for traders and investors. The parties collaborate on integrated solutions and offerings, including the opportunity for moomoo customers to trade directly from the TradingView platform.With moomoo, investors can access advanced charting tools, technical analytics, and in-depth data. The platform also provide ...

Core Insights - Futu Holdings Limited has upgraded its Type 1 license to include virtual asset dealing services, allowing it to serve both retail and professional investors in Hong Kong [1] Company Overview - Futu Holdings Limited is a technology-driven company that offers fully digitalized financial services through its platforms, Futubull and moomoo [2] - The company provides a comprehensive range of investment services, including trade execution, margin financing, securities lending, and wealth management [2] - Futu integrates social media tools to enhance user connectivity and engagement within its investment ecosystem [2] - Additionally, the company offers corporate services such as IPO distribution, investor relations, and ESOP solutions [2]