Welcome to our dedicated page for Futu Holdings news (Ticker: FUTU), a resource for investors and traders seeking the latest updates and insights on Futu Holdings stock.
Futu Holdings Limited (Nasdaq: FUTU) is a tech-driven online brokerage and wealth management company that regularly issues news and updates about its operations, platforms and financial performance. Through its proprietary digital platforms Futubull and moomoo, Futu provides fully digitalized investment services, and its news flow often highlights developments that affect users, investors and corporate clients across multiple markets.
News about Futu frequently covers its quarterly and interim financial results, released via earnings announcements and accompanying conference call details. These updates discuss metrics such as client assets, trading volumes, funded accounts and revenue composition, along with commentary from management on business trends, technology investments and market conditions across regions like Hong Kong, the United States and other markets served by moomoo.
In addition to earnings, Futu-related news includes product and feature enhancements on its platforms. Recent communications have described the rollout of AI-powered tools such as the Moomoo AI chatbot, AI stock screening and portfolio analysis capabilities, and the expansion of cryptocurrency-related services and virtual asset infrastructure. The company also issues news about new trading features, derivatives access, structured products and other additions to its digital offering.
Another recurring theme in Futu and moomoo news is international expansion and localization. Press releases highlight growth in markets including Singapore, Australia, Japan, Canada, Malaysia and New Zealand, as well as localized features such as IPO financing services, earnings calendars and educational initiatives. The company also reports on community and education programs, such as MooFest events, collaborations with exchanges and nonprofits, and financial literacy campaigns.
Investors and platform users following FUTU news can expect updates on corporate services such as IPO distribution and investor relations mandates, including participation as joint bookrunner in Hong Kong listings. Together, these news items provide insight into how Futu is developing its technology, expanding its geographic reach and evolving its digital brokerage and wealth management services.
PALO ALTO, Calif., June 2, 2021 /PRNewswire/ -- Moomoo Inc., a subsidiary of Futu Holdings Limited (Nasdaq: FUTU), launched its Moomoo Ambassador referral program on June 1, 2021. This initiative allows users to refer new customers and earn free stocks valued between $8 and $1,000 via a lucky draw. Ambassadors can earn additional rewards with more successful referrals. Notably, from June 1 to July 1, 2021, Ambassadors can guarantee a share of Apple stock (AAPL) for referring two new users with qualified deposits. Moomoo boasts over 14 million users and reported 368% year-over-year revenue growth in Q1 2021.
Moomoo Inc. announced that its affiliate, Futu Singapore Pte. Ltd., has surpassed 100,000 paying clients and boasts a total user base of over 220,000 in Singapore as of June 1, 2021. The platform, launched on March 8, 2021, is rapidly gaining traction among investors, particularly Gen Z and Millennials, who favor self-directed trading. Over 40% of paying clients are interested in US markets. The platform offers an interactive community experience, facilitating social sharing and investment education.
Futu Holdings Limited (Nasdaq: FUTU) has reached a significant milestone with over 100,000 paying clients in Singapore, following the launch of its moomoo platform on March 8, 2021. Futu Singapore Pte. Ltd. offers capital markets products and services and is backed by the Capital Markets Services license from Singapore’s Monetary Authority since October 1, 2020. As a tech-driven online brokerage, Futu aims to enhance the investing experience for the emerging affluent through its digital platforms, Futubull and moomoo, which provide comprehensive trading and analytical capabilities.
Futu Holdings Limited (Nasdaq: FUTU) reported outstanding results for Q1 2021, with total revenue soaring 349.4% YoY to $283.6 million, marking triple-digit growth for five quarters. Non-GAAP adjusted net income surged 6.3 times to $151.7 million. The user base expanded to 14.2 million, a 69.7% increase, with paying clients rising 231.0% to 789,652. Trading volume jumped 277.5% YoY to $289.0 billion, driven by U.S. stocks, which made up 63% of this volume.
Futu Holdings Limited reported exceptional growth in its unaudited first quarter 2021 financial results, with total revenues soaring by 349.4% year-over-year to HK$2,204.6 million (US$283.6 million). The company achieved a remarkable 372.6% increase in gross profit, reaching HK$1,761.4 million (US$226.6 million). Net income surged by 6.5 times to HK$1,162.3 million (US$149.5 million). The number of paying clients climbed to 789,652, up 231.0% year-over-year, with total client assets hitting HK$462.2 billion, a 367.6% increase. Futu's strong performance is supported by significant client base expansion and robust trading activities.
Futu Holdings Limited (NASDAQ: FUTU) announced its addition to the MSCI Hong Kong Index, effective May 27, 2021. This recognition positions Futu among leading companies in the Hong Kong market, enhancing its visibility to global institutional investors. The MSCI Index serves as a key benchmark for optimizing investment portfolios.
Futu is a tech-focused online brokerage catering to the affluent Chinese demographic, offering a comprehensive digital platform for trading a variety of securities, including stocks and ETFs. Its services include trade execution and margin financing.
Futu Clearing Inc. has secured a strategic $400 million capital injection from its parent company, Futu Holdings (Nasdaq: FUTU), to bolster US operations and international expansion efforts. This funding will enhance Futu Clearing's ability to support trading activities and improve clearing, margin accounts, and service quality for clients globally. In 2020, Futu's user base grew by 58.6%, indicating strong market demand. CEO Ila Jehl emphasized this investment reflects Futu Holdings' confidence in the US markets and commitment to meeting global investor needs.
Futu Holdings Limited (NASDAQ: FUTU) will announce its financial results for Q1 2021 on May 19, 2021, before U.S. markets open. This earnings call will begin at 7:30 AM ET and requires pre-registration for participants. The company continues to focus on providing a fully digitized brokerage and wealth management platform aimed at the emerging affluent Chinese population. Futu's services include trade execution and margin financing across various markets, supported by robust analytical tools and market data.
On April 28, 2021, Futu announced that its subsidiary Moomoo will sponsor the live stream of the 2021 Berkshire Hathaway Shareholders Meeting, hosted by Yahoo Finance on May 1, 2021. Moomoo, which boasts over 13 million users, aims to connect its audience to insights from notable investors like Warren Buffett. The platform is also offering new users up to 4 free stocks with a $5,000 deposit. This initiative aligns with the growing demand for investment tools and financial information during the pandemic.
On April 24, 2021, Futu Holdings Limited (Nasdaq: FUTU) announced the completion of its American depositary shares (ADS) offering, raising approximately $1.42 billion from 10,925,000 ADSs priced at $130.00 each. This includes 1,425,000 ADSs sold via an underwriters' option. The proceeds will primarily fund margin financing, international expansion, and potential investments. The offering utilized the company's shelf registration statement filed with the SEC. BofA Securities and Haitong International Securities are the joint bookrunners.
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