Futu Holdings reports Q3 EPS $2.93 vs. $1.21 last year

Reports Q3 revenue $822.9M vs. $442.27M last year. Total number of users increased 16.8% year-over-year to 28.2M. Leaf Hua Li, Futu‘s chairman and CEO, said, “In the third quarter, we added 254 thousand net new funded accounts, up 24.7% quarter-over-quarter. Total funded accounts reached 3.1 million, up 42.6% year-over-year and 8.8% quarter-over-quarter. Client acquisition picked up in every market. For the fourth consecutive quarter, Hong Kong led new client additions as we executed well in a quarter of strong equity market performance and robust IPO pipeline. We believe that leading brokers in Hong Kong benefit from the new IPO FINI regime as clients consolidate their brokerage accounts to increase their odds of IPO allocation. Malaysia contributed meaningfully to the Company’s funded account growth in the quarter, and we continue to see a long runway for growth in Malaysia after seven quarters of rapid market share expansion. During the quarter, we enhanced product localization by rolling out Bursa derivatives, SGX futures, and AI tools that support Malay language and local stock analysis. As a result of our growing brand appeal and product experience, the strength of our U.S. business was broad-based this quarter: new funded accounts grew high double digits sequentially, while the number of option traders and option contracts traded also increased by double digits quarter over-quarter. We continue to cement our leadership in Singapore, with new funded accounts again posting steady sequential growth and our DAU advantage vis-a-vis our peers further widening.”