2024-05-28 15:21:58 ET
Summary
- Futu Holdings' most recent quarterly financial performance surpassed expectations as the company's Q1 2024 revenue and earnings in HK$ terms beat consensus by +1.2% and +8.0%, respectively.
- Looking ahead, FUTU anticipates that the company can add 400,000 new paying customers this year, which is way better than the 220,000 new paid client additions it achieved last year.
- My rating for Futu Holdings is revised to a Buy, as I am impressed with the company's above-expectations results and upward client growth guidance revision.
Elevator Pitch
Futu Holdings Limited ( FUTU ) is assigned a Buy investment rating.
I previewed Futu Holdings' financial results for the final quarter of the prior year in my February 22, 2024 article . This latest write-up analyzes FUTU's most recent financial disclosures....
Read the full article on Seeking Alpha
For further details see:
Futu: Turning Bullish On Strong Customer Growth (Rating Upgrade)