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        Moomoo's Parent Company Futu Holdings Announces US$338.5 M in Revenues and US$147.9M Non-GAAP Net Income for Q3 2023

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        Futu wrote a column · 11/23/2023 16:02
        Moomoo's parent company Futu Holdings Ltd. ("Futu" or the "Company"), a leading tech-driven online brokerage and wealth management platform reported unaudited Q3 2023 earnings with US$338.5 million in revenue, up 36.2% year-over-year ("yoy"), and US$147.9 million in non-GAAP net income, a 43.7% yoy increase.
        Moomoo, along with its sister brands reached a milestone of 21.09 million global users and 1.65 million paying clients by the end of Q3 2023, representing an increase of 10.1% and 14.2% yoy, respectively. The quarter has also seen a sequential growth of 12.0% in the acquisition of new paying clients, totaling approximately 65,000.
        As of September 30, 2023, moomoo and its affiliated brands maintained a strong client retention rate at above 98.0%, with total client assets reaching US$59.8 billion, demonstrating significant client confidence. Moreover, the total trading volume has seen a sequential rise of 13.6%, reaching US$139.2 billion.
        In August, Standard & Poor's ("S&P") reaffirmed Futu's long-term issuer credit rating "BBB-", endorsing the firm's strong capital structure and effective risk management. In the corresponding report, S&P predicted Futu's customer base would grow, particularly abroad, in line with its global expansion goals over the next two years.
        Moomoo's Parent Company Futu Holdings Announces US$338.5 M in Revenues and US$147.9M Non-GAAP Net Income for Q3 2023
        Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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        Futu is an advanced tech company transforming the investing experience by offering a fully digitized brokerage and wealth management platform.
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