Moomoo's Parent Company Futu Releases Q3 Earnings Result with US$442.3 Million in Total Revenues, a 29.6 % YoY Increase [Globe and Mail, The (Toronto, Canada)]
SINGAPORE EXCH UNSP/ADR (SPXCY)
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Source: Globe and Mail, The
online brokerage and wealth management platform, announced its unaudited Q3 2024 earnings with US$442.3 million in revenues, up 29.6% year-over-year ("YoY"), and US$180 million in non-GAAP adjusted net income, a 20.8% YoY increase. The Company maintained robust growth, with its global users reaching over 24.1 million and paying clients approaching 2.2 million by the end of Q3, representing an increase of 14.4% YoY and 33.1% YoY, respectively. Total client assets accelerated significantly compared to Q2, reaching US$89.2 billion with a rise of 19.7% quarter-over-quarter ("QoQ") and 48.1% YoY. Growth in newly penetrated markets was particularly strong in this quarter. Japan Canada , and Malaysia saw double-digit QoQ increases in account openings, paying clients, as well as client assets. The Company's strong quarterly result was also reflected in the trading activities across its platforms, with the total trading volume increasing to US$245 billion , up 17.4% QoQ and 74.7% YoY. St
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