Why Shares of Futu Holdings Are Rising Today
Shares of Hong Kong-based digital broker and wealth management platform Futu Holdings (NASDAQ: FUTU) rose more than 10% at one point this morning after the company reported earnings.
The company reported total revenue in the fourth quarter of 2020 equivalent to $153 million and turned a profit of $68.7 million. Both numbers beat analysts' expectations.
For the full year of 2020, Futu generated total revenue equivalent to $427 million and turned a profit of $171 million. Total revenue and profits for the full year of 2020 increased by 212% and nearly 700%, respectively.
Source Fool.com
