Futu Reports Q1 Financials, with Total Trading Volume up 11.2% QoQ

Futu Holdings Limited (Futu), a US-listed Chinese online brokerage, has released its unaudited financial results for the first quarter of 2023, dislosing total revenues of US$318.5 million for the period, an increase of 9% compared to US$ 292.3 million in Q4 2022​.

The non-GAAP adjusted net income for Q1 2023 came in at US$161.5 million, rising 24.2% over the prior quarter.

The broker ended the quarter with 20 million users, increasing 10.5% year-over-year. Total number of registered clients and paying clients reached 3.3 million and 1.5 million, up 13.5% and 15.2% on a yearly basis, recpectively.

As of quarter end, Futu held total client assets of US$59.3 billion, 11.5% higher over the prior quarter, with the quarterly client retention rate remaining the same of 98%.

In addition, total trading volume for Q1 2023 grew 11.2% on a quarterly basis to US$155.8 billion, with Daily Average Revenue Trades (DARTs) up 8.2% to 514,105.

"We are glad to deliver another quarter of resilient growth and achieve deeper business presence across all markets, a testament to our relentless efforts in driving innovation and technology excellence across products and services offerings and operation," said Mr. Leaf Hua Li, Futu’s Founder, Chairman, CEO and Chairman of the Technology Committee.