Futu bags $1.2b net income in Q2 2024

Earnings per share stood at 1.

Earnings per share stood at 1.08 Hong Kong cents.

Futu Holdings Limited saw its second quarter (Q2 2024) net income climb 8.0% year-on-year (YoY) to HK$1.2b (US$154.9m).

Revenue was also up by 26% YoY to HK$3.1b (US$400.7m) in Q2 2024.For the first six months of the year, net income dipped 2.5% YoY to HK$2.6b (US$340.9m).

Earnings per share (EPS) stood at 1.08 Hong Kong cents (0.14 US cents) in the three-month period. Meanwhile, H1 2024's EPS stood at 2.01 Hong Kong cents (0.26 US cents).

"As total net asset inflow recorded robust sequential growth, we surpassed our full-year 2023 net asset inflow only 6 months into the year. Total client assets in Singapore achieved double-digit sequential growth for the eighth consecutive quarter," Leaf Hua Li, Futu’s Chairman and Chief Executive Officer said in a filing.

"In Malaysia, both total client assets and average client assets logged rapid sequential increase. Our clients’ higher risk appetite in the quarter led to more leveraged positions. As a result, margin financing and securities lending balance increased by 16.6% sequentially to an all-time high of HK$43.8b.” Leaf added.

Futu Holdings Limited

Financial Statements

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