Futu Holdings Ltd-ADR · Q2 2025 earnings

Briefing

Futu Q2 2025: HK$5.31B revenue up 70% YoY, net income HK$2.57B as funded accounts surpass 2.9M and client assets hit record

Futu Holdings reported second quarter 2025 total revenues of HK$5,310.9 million (US$676.6 million), up 69.7% year over year, driven by surging trading volumes and higher client assets. Total gross profit rose 81.6% to HK$4,639.9 million with gross margin expanding to 87.4% from 81.6%, and income from operations jumped 125.9% to HK$3,344.0 million as operating margin reached 63.0%. Net income increased 112.7% to HK$2,572.6 million (US$327.7 million), with diluted net income per ADS of HK$18.24 (US$2.32). Non-GAAP adjusted net income grew 105.2% to HK$2,659.8 million (US$338.8 million). Funded accounts rose 40.9% YoY to 2,877,126 with over half now outside Hong Kong, total client assets climbed 68.1% to HK$973.9 billion, and Q2 trading volume reached HK$3.59 trillion (+121.2% YoY). Wealth management client assets reached HK$163.2 billion, up 104.4% YoY.

• Revenue of HK$5.31B (+69.7% YoY) and net income of HK$2.57B (+112.7% YoY) reflected strong trading activity, higher interest income, and operating leverage
• Funded accounts reached 2.88M (+40.9% YoY) with 204K net adds in Q2; international accounts exceeded half of the total for the first time
• Client assets hit a record HK$973.9B (+68.1% YoY) on robust net inflows and mark-to-market gains; margin financing balance was HK$51.4B
• Q2 trading volume of HK$3.59T (+121.2% YoY) was led by US stocks at HK$2.70T; crypto trading launched in most US states in June
• Wealth management assets reached HK$163.2B (+104.4% YoY) with expanded fixed income and structured product offerings in Hong Kong and Singapore

Headline financials

Revenue & EPS history