Futu Holdings Shares Up After Strong Financial Report

Jun 6, 2022 By MarketDepth

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Futu Holdings Limited (NASDAQ: FUTU) shares jumped more than 20% after the Company announced solid performance for the quarter ended March 31, 2022, with US$209.5 million (HK$ 1641.0 million) total revenues, and US$79.4 million (HK$622.2 million) non-GAAP adjusted net income.

Over 2.9Million Registered Users

As of the end of the quarter, total number of users of moomoo and its sister brand Futubull was 18.1 million, an increase of 27.1% year-over-year. In addition, the total number of registered clients was 2,910,995, an increase of 48.7% year-over-year.

“Although the market sentiments remained volatile in the first quarter, Futu demonstrated its resiliency with upbeat highlights and growth in key indicators across various markets. Notably, our enterprise service business and wealth management business performed robust growth.”

Futu’s Chairman and Chief Executive Officer Mr. Leaf Hua Li

Futu expanded its enterprise service footprint in Singapore by participating in several high-profile ETF IOPs. Futu SG was entrusted by Nikko Asset Management as a participating agent in the Initial Offering Period and listing of the Nikko AM – Straits Trading MSCI China Electric Vehicles and Future Mobility ETF (Exchange Traded Fund) on SGX in the first quarter. The subscription of the ETF via Futu Singapore ranked the first in the market, proving Futu’s value in enhancing the local market’s liquidity and promoting investment.

“We are humbly glad to see the achievements in the first quarter from various markets, but we will never feel fully satisfied in making investment more accessible for all. Since the inception of the company, we are committed to our pursuit in making investing easier and not alone, with our tech excellence. We will never cease bringing better trading experience to investors worldwide, becoming their trusted partner to make more savvy decisions, to connect with like-minded peers and to stay up to date on the financial world.”

Futu’s Chairman and Chief Executive Officer Mr. Leaf Hua Li