Futu Brokerage Firm Reports 35% Increase In Its Revenue For Q4 2021.
The “futu” is a cryptocurrency that was launched on December 1, 2017. The firm has reported an increase in its revenue for Q4 2021 of 35%.
Futu, a Chinese broker, has issued its sales report for the fourth quarter of 2021. According to the study, sales climbed by 35% to HK$1.6 billion ($205.5 million) in the first quarter of 2021, compared to the same period the previous year.
In addition, the company’s gross profit increased by 46.8% in Q4 2021, reaching HK$1.39 billion. However, it experienced a 6.3 percent drop in net income to HK$498.8 million, while the adjusted number similarly decreased to HK$533.4 million ( a decline of 3.5 percent ).
Futu claims to have made HK$7.1 billion ($912.3 million) in revenue for the whole year of 2021, up 114.9 percent from the previous year. It also had a 112 percent increase in net income, with a 126 percent increase in gross profit for the year.
Sluggish equities don’t bother Futu.
In 2021, the stock market was sluggish for a long period. Despite the poor market performance in that sector, Futu had a great financial performance in Q4 2021.
Futu’s Chief Executive Officer, Leaf Hua Li, remarked that the business’s delayed performance in stocks had no impact on other sectors since the company was able to compensate for it with strong growth in other areas.
However, there was little variation in trade volume between Q4 2021 and Q4 2021, with just a 1.3 percent rise to HK$1.2 trillion. However, on a larger scale, the trade volume in 2021 was 77.2 percent more than it was in 2021, according to the research.
DART (day average revenue trading) increased by 17.6% in Q4 2021 and by a whopping 93.5 percent for the whole year.
The broker also noted that the year finished with excellent customer figures, with the platform’s overall number of users increasing by 45.8%. The number of paying customers increased by 140.8 percent, while the number of registered clients increased by 93.8 percent. According to Futu, the United States, Singapore, and Hong Kong had the most net paying customers.
