Summary by Moomoo AI
Futu Holdings reported strong Q3 2024 results with total revenues increasing 29.6% YoY to HK$3.44 billion. Net income rose 20.9% YoY to HK$1.32 billion, while total client assets grew 48.1% YoY to HK$693.4 billion. The company's paying clients increased 33.1% YoY to 2.20 million, with total trading volume up 74.7% YoY to HK$1.90 trillion.The company demonstrated robust growth across key metrics, with brokerage commission income up 51.5% YoY to HK$1.53 billion and interest income rising 12.9% YoY to HK$1.70 billion. Wealth management assets reached HK$97.3 billion, up 87.5% YoY, with 27% of paying clients now holding wealth management products.To mark its fifth anniversary of Nasdaq listing, Futu announced a special cash dividend of US$2 per ADS (US$0.25 per ordinary share), totaling approximately US$280 million, payable to shareholders of record as of December 6, 2024. The company expects full-year new paying client growth to exceed its guidance of 550,000, driven by strong performance in established markets and momentum in newer ones.
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