Futu Holdings' Global Expansion Fuels Record Gains in Q4 2024

Futu Holdings Ltd. reported impressive Q4 2024 earnings, achieving $570.6 million in revenues, an 86.8% YoY increase, and $251.3 million in net income, a 105.4% YoY rise. Their global expansion strategy bolstered user growth, while trading volumes and assets under management surged, driving significant company-wide growth.

Futu Holdings Ltd., the parent company of the online trading platform moomoo, has announced robust Q4 2024 financial results. The firm's revenue soared to $570.6 million, reflecting an 86.8% year-over-year growth, alongside a 105.4% increase in net income, reaching $251.3 million.

This performance was bolstered by a successful globalization strategy that enabled Futu to acquire 701,000 new paying clients throughout 2024. The expansion led to $95.7 billion in client assets, alongside soaring user engagement and trading activities, particularly in newly entered markets such as Japan, Canada, and Malaysia.

Futu's diversified approach saw Q4 trading volumes reaching an all-time high of $371.5 billion, with significant milestones in US and Hong Kong stock trading. The company's crypto trading services and wealth management segment also progressed notably, supporting overall growth and continued investor confidence.

(With inputs from agencies.)