Futu Sees 83% YoY Jump in Q3 Total Revenues

Futu Holdings Limited (Futu), a US-listed Chinese online brokerage, has reported its key financial metrics for the third quarter ended September 30, 2021. The company saw a significant increase in its total revenue and gross profit during the quarter.

According to the quarterly report, the company's total revenues in Q3 2021 reached HK$1,731.1 million, 83 percent higher compared to the same period in the last year. The total gross profit increased 91.6 percent year-over-year to HK$1,463.8 million and net income increased 53.1 percent to HK$615.2 million.

During the period, the he total number of registered clients of the company increased 119.9% year-over-year to 2,580,002, while the total number of paying clients increased 179.2% year-over-year to 1,167,204. The company's international users touched 16.6 million. This is an increase of 58.6% compared to the third quarter of 2020.

Futu's total trading volume in this quarter increased 33.1 percent year-over-year to HK$1.4 trillion. The daily average revenue trades (DARTs) increased 52.2% year-over-year to 576,810.

"Despite challenging macro environment, we recorded solid growth in paying clients and sequential improvement in financial metrics during the third quarter of 2021,"Mr. Leaf Hua Li, Futu's Chairman and Chief Executive Officer, said."Organic growth continued to drive the bulk of our paying client addition – the third quarter of 2021 marked our seventh consecutive quarter of acquiring over half of our paying clients organically.”