Futu Registers 42.3% Jump in Q4 2022 Total Revenues, Despite Fall in Trading Volume

Futu Holdings Limited (Futu), a US-listed Chinese online brokerage, has released its financial results for the fourth quarter (Q4) and full year of 2022. The broker has generated US$ 292.3 million total revenues for the quarter, enjoying an increase of 42.3%.

Net income (Non-GAAP) for Q4 2022 came in at US$ 130.0 million, surging 92.2%, with gross profits up 39.9% to $248.5 million. Global users of Futu ontinued to grow, and client retention rate remained high at 98%. The company ended the quarter with HK$ 417.5 billion client assets.

Its users totaled 19.58 million for the quarter, increasing 12.7%. The number of registered clients has risen 17.5% to 3.23 million.

However, the brokerage’s quarterly total trading volume dropped 10.9% to US$ 140.1 billion, with Daily average revenue trades (DARTs) down 12.7% to around 475,000.

For the full year, Futu has produced total revenues of US$ 976.0 million, and net income (Non-GAAP) of US$ 401.4 million.

In November, Fazzaco reported that Futu's total revenues grew 12.4% on a year basis to US$247.9 million for Q3 2022​.