Futu Holdings Ltd., the parent company of Moomoo, reported strong Q2 2024 earnings, with revenues of $400.7 million, a 25.9% increase year-over-year, and non-GAAP adjusted net income of $166.0 million, up 8.6% YoY.
The company’s global user base grew by 13.3% to 23.3 million, and the number of paying clients surged by 28.8% to two million. Total client assets reached $74.2 billion, an 11.9% increase from the previous quarter, with trading volume up 21.1% to over $207.7 billion.
Futu Holdings – Growth
The growth was driven by high stock trading volumes and the introduction of new offerings, including Japanese stock trading, cryptocurrency ETFs, and expanded bond and fund options. Wealth management assets surpassed $10 billion.
Moomoo’s expansion continued with notable achievements, including surpassing one million users in Singapore and high double-digit growth in Canada, Japan, and Malaysia. The company also launched crypto trading in Singapore and Hong Kong and plans to offer more products globally.
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