NASDAQ$FUTU
Futu Holdings Ltd-ADR · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Futu Q1 2025: HK$4.69B revenue (+81%), HK$2.14B net income as funded accounts surpass 2.67M
Futu Holdings reported Q1 2025 total revenues of HK$4,694.6 million (US$603.4 million), up 81.1% year-over-year, with gross profit of HK$3,945.7 million (+85.9%) and an 84.0% gross margin. Net income rose 107.0% to HK$2,142.7 million (US$275.4 million); non-GAAP adjusted net income grew 97.7% to HK$2,216.9 million. The company added approximately 262,000 net new funded accounts in Q1, bringing the total to 2,673,119 (+41.6% YoY), with brokerage accounts reaching 4,955,319. Total client assets climbed 60.2% YoY to HK$829.8 billion on record net asset inflows. Trading volume surged 140.1% to HK$3.22 trillion, and wealth management client assets reached HK$139.2 billion (+117.7% YoY). Diluted net income per ADS was HK$15.28 (US$1.96).
- Total revenues grew 81.1% to HK$4,694.6M; net income rose 107.0% to HK$2,142.7M (45.6% margin)
- Added ~262K net new funded accounts in Q1; total funded accounts reached 2.67M (+41.6% YoY)
- Client assets hit HK$829.8B (+60.2% YoY); trading volume was HK$3.22T (+140.1% YoY)
- Brokerage commission income was HK$2,310.2M (+113.5%); interest income HK$2,070.5M (+52.9%)
- Wealth management assets reached HK$139.2B; on track for 800K net new funded accounts in 2025
Headline financials
Revenue & EPS history
Futu · Revenue · Quarterly
HK$4.69B
Revenue by segment
Futu · HK$4.69B total across 3 segments · Q1 2025
- Brokerage commission and handling charge incomeHK$2.31B—49.2%
- Interest incomeHK$2.07B—44.1%
- Other incomeHK$314M—6.7%
Forward guidance
Futu added one-third of its full-year 2025 target of 800,000 net new funded accounts in Q1 and remains on track to meet that guidance.
Tailwinds
- Record client asset inflows with Hong Kong and Malaysia showing strong funded account growth
- Operating margin expanded to 57.2% from 46.0% on operating leverage
Headwinds
- Blended commission rate declined despite higher trading volume
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2025
-0.5%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+3.7%
Avg return
30 days after
40%
12 / 30 earnings
Positive
+26.6%
Q1 2022
Best reaction
-22.8%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | -7.6% | -3.5% | +1.2% | |
| Q3 2025 | -0.4% | -4.2% | -2.8% | |
| Q2 2025 | +5.9% | +15.6% | +5.6% | |
| Q1 2025 | -0.4% | -2.6% | +12.6% | |
| Q4 2024 | -3.8% | +2.5% | -28.0% | |
| Q3 2024 | -3.6% | -8.8% | -9.4% | |
| Q2 2024 | +0.2% | +0.6% | +8.5% | |
| Q1 2024 | +2.3% | +0.7% | -11.9% | |
| Q4 2023 | -17.0% | -13.6% | -12.1% | |
| Q3 2023 | -1.1% | -5.9% | -13.3% | |
| Q2 2023 | +4.6% | +23.0% | +21.0% | |
| Q1 2023 | -1.7% | -0.6% | +1.0% | |
| Q4 2022 | +0.2% | +5.2% | -11.3% | |
| Q3 2022 | +7.4% | +4.1% | +22.5% | |
| Q2 2022 | +6.1% | +5.7% | -21.3% | |
| Q1 2022 | +26.6% | +21.6% | +35.4% | |
| Q4 2021 | -13.5% | +29.8% | +26.3% | |
| Q3 2021 | -8.4% | -7.0% | -24.7% | |
| Q2 2021 | +15.4% | +12.2% | -3.9% | |
| Q1 2021 | +2.5% | -0.2% | +24.1% | |
| Q4 2020 | -8.6% | -11.2% | -0.2% | |
| Q3 2020 | +12.9% | +8.5% | +0.7% | |
| Q2 2020 | -6.6% | -0.4% | -13.6% | |
| Q1 2020 | +6.8% | +15.0% | +53.0% | |
| Q4 2018 | -0.2% | -0.5% | +38.7% | |
| Q4 2017 | -0.2% | -0.5% | +38.7% | |
| Q4 2019 | -22.8% | -26.6% | -5.8% | |
| Q3 2019 | -4.3% | -5.5% | -10.2% | |
| Q2 2019 | -3.5% | -4.6% | -0.9% | |
| Q1 2019 | -3.5% | +1.0% | -8.9% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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