Moomoo's Parent Company Futu Holdings Reports US$303.8 M and US$1.281 B in Revenues for Q4 and for Full Year 2023
Moomoo's parent company Futu Holdings Ltd. ("Futu" or "the Company"), a leading tech-driven online brokerage and wealth management platform, announced its unaudited Q4 2023 earnings with US$303.8 million in revenues, up 4.1% year-over-year ("YoY") and US$121.7 million in non-GAAP adjusted net income.
For the year ended December 31, 2023, the Company recorded US$1.281 billion in revenues and US$585.1 million in non-GAAP adjusted net income, representing a YoY increase of 31.4% and 45.9%, respectively.
According to the earnings results, the Company's overseas digital brokerage and investment brand moomoo, alongside with its sister brands, had amassed 21.64 million global users and 1.71 million paying clients by the end of 2023, up 10.5% and 15.0% respectively, compared to the previous year. During the full year 2023, the Company had acquired more than 220,000 new paying clients, including over 59,000 newly added in the fourth quarter, a growth of 41.0% compared to that of Q4 2022.
Meanwhile, the paying client retention rate remained strong at 98%, with the total client assets achieving US$62.164 billion, up 16.3% YoY.
During the fourth quarter, Futu's affiliate companies achieved new accomplishments as its business expanded into more markets with more diverse product offerings to meet the multiple demands of global investors. At this stage, Futu's overseas affiliate companies provide stock trading and financial services in the US, Australia, Singapore, Japan, Canada and Malaysia.
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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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mr_cashcow :
Kasin : cool
104491587chinhow : Best lah
AIorShit : So good to wait for you to rise, but before the counter it drops 10%
104345173 : revenue good but investor selling
in post market..no logic
Invest With Cici :
榜鹅托老师 : I hope it rises
tanvi : What is the difference between users and clients, and clients and paying clients?
Uncle Leon sg 104345173: The big players already knew the good results and already pushed the price to very high. Now the retailers read the good news and happily buying the stock, big players will use this as a good chance to off load at high price to the retailer, who will hold this baby for a long time
104345173 Uncle Leon sg: I tot state market don't have such practice...l
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