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Dec 31, 2024
Futu Q4 2024 Earnings Report
Futu reported strong revenue and earnings growth in Q4 2024.
Key Takeaways
Futu achieved significant revenue growth of 86.8% YoY, driven by a surge in trading volume and strong performance across markets. Net income more than doubled, reflecting operational efficiency and increased client activity. Non-GAAP adjusted net income also saw substantial gains.
Total revenue increased by 86.8% YoY to $570.6 million.
Net income rose by 113.3% YoY to $240.7 million.
Non-GAAP adjusted net income grew 105.4% YoY to $251.3 million.
Operating margin improved to 50.0%, up from 43.1% in Q4 2023.
Futu
Futu
Futu Revenue by Segment
Futu Revenue by Geographic Location
Revenue by Segment
Brokerage Revenue
CapyFin.comInterest Income Revenue
CapyFin.comOther Income Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comHong Kong Revenue
CapyFin.com Forward Guidance
Futu expects continued growth in client acquisition and market expansion, with a focus on increasing profitability and operational efficiency.
Positive Outlook
- Projected net new paying clients of 800,000 in 2025.
- Continued strong asset inflow into U.S. equities and cash management products.
- Expansion of structured product offerings for high-net-worth clients.
- Anticipated market share growth in Hong Kong IPO subscriptions.
- Strong AI and technology sector trading expected to drive revenue.
Challenges Ahead
- Potential impact of market volatility on trading volume.
- Regulatory changes could affect operating conditions.
- Increasing competition in online brokerage services.
- Higher marketing expenses to sustain client acquisition growth.
- Risk of lower commission rates affecting brokerage income.
Revenue & Expenses
Visualization of income flow from segment revenue to net income