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HONG KONG - On Thursday, Futu Holdings Limited (NASDAQ:FUTU), a leading tech-driven online brokerage and wealth management platform, reported first quarter earnings that more than doubled from a year ago, driven by strong growth in trading volume and funded accounts.
The company’s shares surged 7.7% in pre-market trading following the results.
The company reported net income of HK$2.14 billion ($275.4 million) for the first quarter of 2025, up 107% from HK$1.04 billion in the same period last year. Revenue rose 81.1% year-over-year to HK$4.69 billion, slightly below analyst estimates of HK$4.7 billion.
Futu added approximately 262,000 funded accounts in Q1, bringing its total to 2.67 million, up 41.6% from a year ago. Total (EPA:TTEF) client assets increased 60.2% year-over-year to HK$829.8 billion.
"We started 2025 on a strong note, adding approximately 262 thousand funded accounts in the first quarter, up 47.8% year-over-year and 21.9% quarter-over-quarter," said Leaf Hua Li, Futu’s Chairman and CEO. "With one-third of our full-year target already achieved, we remain firmly on track to meet our guidance of 800 thousand net new funded accounts in 2025."
Total trading volume surged 140.1% year-over-year to HK$3.22 trillion, with U.S. stock trading volume growing 8.2% sequentially to HK$2.25 trillion. Hong Kong stock trading volume increased 21.4% quarter-over-quarter to HK$916.0 billion.
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