On August 21, Futu Holdings Limited rose 5.52% in regular trading, trading at $117.0/share, with turnover of $44.36 million. The stock continued to gain following a strong Q2 earnings beat reported the prior day.
Futu reported Q2 revenue of HK$7.20 billion, up 35.6% year-over-year, significantly exceeding the analyst consensus estimate of HK$6.17 billion. Net income came in at HK$26.08 per diluted ADS versus the FactSet estimate of HK$23.36. In U.S. dollar terms, quarterly sales of $918.16 million beat the $775.99 million estimate by 18.32%. The company attributed the strong performance to record trading volumes driven by AI and chip sector frenzy, with funded accounts reaching 3.8 million.
Within the Investment Banking & Brokerage sector, peer Robinhood rose 5.28%, Goldman Sachs gained 1.62%, Morgan Stanley advanced 1.46%, Charles Schwab added 0.7%, while Webull Corp fell 2.6%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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