Futu Sees Q3 Net Income Rise 22.7% YoY Despite Dip in Trading Volume

Futu​ Holdings Limited (Futu), a US-listed Chinese online brokerage, has released its unaudited financial results for the third quarter (Q3) ended September 30, 2022, revealing that its total revenues grew 12.4% on a year basis to HK$1,945.6 million (US$247.9 million).

Total gross profit reached HK$1,727.5 million (US$220.1 million), up 18.0% year-over-year. Net income went up 22.7% on a yearly basis to HK$754.6 million (US$96.1 million), with non-GAAP adjusted net income up 24.8% year-over-year to HK$806.1 million (US$102.7 million).

The broker's daily average revenue trades (DARTs) in the third quarter came in at 448,309, down 22.3% year-over-year. Total trading volume fell 19.7% year-over-year to HK$1.1 trillion. And brokerage commission and handling charge income stood at HK$957.8 million (US$122.0 million), up 2.6% year-over-year.

The number of registered clients totaled 3,132,800 as of September 30, 2022, increasing 21.4% on a yearly basis. Besides, total number of users rose 15.6 % year-over-year to 19.2 million.