Moomoo's Parent Company Futu Releases Q3 Earnings Result with US$442.3 Million in Total Revenues, a 29.6 % YoY Increase

Core Insights - Futu Holdings Ltd. reported Q3 2024 earnings with revenues of US$442.3 million, a 29.6$180 million, reflecting a 20.8% year-over-year growth [1] User Growth and Client Assets - The company achieved over 24.1 million global users and nearly 2.2 million paying clients by the end of Q3, marking a 14.4% and 33.1% year-over-year increase respectively [2] - Total client assets reached US$89.2 billion, showing a 19.7$245 billion, up 17.4% quarter-over-quarter and 74.7% year-over-year [3] - US stock trading volume grew by 23% quarter-over-quarter and 90% year-over-year, with significant growth in Canada and Malaysia [4] Localization Strategy - The company implemented a localized market strategy, launching a Dividend Reinvestment Plan for US stocks in Australia and introducing fund products in Japan and Malaysia [6] - Paying clients grew across all seven markets, with notable increases in Japan, Canada, Malaysia, and Australia [7] Community Engagement and Financial Literacy - The company hosted MooFest in Singapore, Malaysia, and Japan, attracting nearly 10,000 investors to promote financial literacy [8] Expansion of Offerings - Moomoo expanded access to various exchanges in Malaysia and became the first licensed brokerage to offer US options trading in the country [9] - The company launched crypto trading services in Hong Kong and Singapore, receiving positive feedback [9] Wealth Management Growth - Total assets under management reached US$12.5 billion, with a record-breaking 22% quarter-over-quarter growth [10]