Companies /Financial Services
Futu Holdings Ltd
NASDAQ: FUTU Capital Markets
$112.30
▼ $1.42 (−1.24%) today
Markets open · 1:50pm ET

Futu Holdings (FUTU) Q2 2025 Earnings

Reported Aug 20, 2025, 6:01am ET · SEC source
$2.32
Miss −86.04%
EPS · est. $16.61
$676.6M
Miss −86.02%
Revenue · est. $4.8B
−10.6%
Trailing market
FUTU vs S&P since report
7 quarters
Consecutive EPS misses

How Did FUTU Stock React to Q2 2025 Earnings?

% change · around the report
−8%−4%0+4%Aug 20Aug 21report 6:01am ETearnings−0.6%+1.6%
−8%−4%0+4%Aug 20Aug 21earnings−0.6%+1.6%
FUTU +1.6%S&P 500 −0.6%
−8%−4%0+4%Aug 20Aug 21report 6:01am ETearnings−1.0%+1.6%
−8%−4%0+4%Aug 20Aug 21earnings−1.0%+1.6%
FUTU +1.6%NASDAQ −1.0%
−6%0+6%+12%Aug 19Aug 28report 6:01am ETearnings+1.2%+6.1%
−6%0+6%+12%Aug 19Aug 28earnings+1.2%+6.1%
FUTU +6.1%S&P 500 +1.2%
−6%0+6%+12%Aug 19Aug 28report 6:01am ETearnings+0.9%+6.1%
−6%0+6%+12%Aug 19Aug 28earnings+0.9%+6.1%
FUTU +6.1%NASDAQ +0.9%
+6.02%
Day of report
+1.00%
Next session
+2.95%
One week
−6.12%
30 days

S&P 500 over the same 30 days: +4.50%.

Did FUTU Beat Earnings? Q2 2025 Results

No. Futu Holdings reported Q2 2025 earnings of $2.32 a share on Aug 20, 2025, missing the $16.61 consensus estimate by 86.0%. Revenue was $676.6M against a $4.8B estimate.

Futu Holdings posted a sharp earnings miss for the second quarter of 2025, with EPS coming in at $2.32 against a consensus estimate of $16.61, a gap of 86.04%, while revenue of $676.56 million fell 86.02% short of the $4.84 billion analysts had expected and declined 78.4% year over year. The figures reflect a significant divergence between reported results and Wall Street's projections, though the filing context tells a more nuanced story: in local currency terms, Futu's revenues surged 69.7% year over year to HK$5.31 billion, driven by a 121.2% spike in total trading volume, robust brokerage commission growth of 87.4%, and expanding international operations that now account for over half of new funded accounts. Net income more than doubled on that basis, rising 112.7% year over year. Shares rallied roughly 6% following the report, with JPMorgan lifting its price target to $200, citing strong earnings growth momentum and the company's expanding crypto and international footprint.

Key Takeaways
  • Trade policy-induced market volatility boosted retail trading activity
  • High-profile Hong Kong IPOs drove retail sentiment and new account growth
  • U.S. stock trading volume grew 19.7% sequentially led by EV and crypto names
  • Total trading volume surged 121.2% YoY to HK$3.59 trillion
  • Net asset inflow in H1 2025 nearly doubled year-over-year
  • Favorable mark-to-market gains from Hong Kong and U.S. equities
  • Funded account quarterly retention rate stayed above 98%

“We concluded the second quarter with approximately 2.9 million funded accounts, up 40.9% year-over-year and 7.6% quarter-over-quarter. We reached a key milestone in our international expansion – as of quarter end, over half of our total funded accounts are from clients outside of Futu Securities Hong Kong.”

Futu Holdings CEO, on the earnings call

FUTU YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$900.0M$1.8B$2.7B$3.1B$676.6MRevenue$2.6B$591.1MGross Profit$1.5B$426.0MOperating Income$1.2B$327.7MNet Income
$0$900.0M$1.8B$2.7BRevenueGross ProfitOperating IncomeNet Income
FUTU income statement, Q2 2025 versus Q2 2024
Metric Q2 2025 Q2 2024 Year over year
Revenue $676.6M $3.1B −78.4%
Gross Profit $591.1M $2.6B −76.9%
Operating Income $426.0M $1.5B −71.2%
Net Income $327.7M $1.2B −73.0%

FUTU Revenue by Segment

Brokerage Commission and Handling Charge Income$328.5M+87.4%
Interest Income$291.5M+43.8%
Other Income$56.6M+175.8%

Figures from SEC filings and company reports. Not investment advice.