Quick Verdict
Futu Holdings Q2 2026 Earnings were reported with second-quarter 2026 diluted EPS of HK$26.08 (US$3.33) and revenue of HK$7.20 billion (US$918.2 million), exceeding reported consensus expectations. The online brokerage’s earnings benefited from strong trading activity, margin financing and international client growth; no definitive same-day after-hours share-price movement was disclosed in the company release.
About Futu Holdings
Futu Holdings Limited (Nasdaq: FUTU) is a Hong Kong-headquartered, technology-led online brokerage and wealth-management company that operates the Futubull and Moomoo digital investing platforms. Its services span trade execution and clearing, margin financing, securities lending, wealth management, IPO distribution, investor relations, and employee stock ownership plan solutions. Founded in 2007, the company is headquartered in Admiralty, Hong Kong, and serves clients across Hong Kong, Singapore, Malaysia, the United States, and other international markets.
As of the latest available market data around August 2026, Futu had a market capitalization of roughly US$16.2 billion–US$17.3 billion and traded at a trailing P/E ratio of approximately 11.4x–12.3x. The business employed approximately 3,540 full-time employees according to Yahoo Finance data. Futu reported 31.3 million registered users and 3.84 million funded accounts at June 30, demonstrating that its expanding global brokerage base is increasingly material to its revenue model.
Top Financial Highlights
- Total revenue rose 35.6% year over year to HK$7.20 billion (US$918.2 million).
- Net income increased 41.6% to HK$3.64 billion (US$464.4 million).
- Non-GAAP adjusted net income increased 40.1% to HK$3.73 billion (US$475.0 million), excluding share-based compensation.
- Diluted net income per ADS reached HK$26.08 (US$3.33), up from HK$18.24 in Q2 2025.
- Basic net income per ADS was HK$26.32 (US$3.36), compared with HK$18.48 a year earlier.
- Gross profit rose 33.9% to HK$6.21 billion (US$792.5 million).
- Gross margin was 86.3%, down modestly from 87.4% in the prior-year quarter as costs rose faster than revenue.
- Income from operations increased 33.5% to HK$4.46 billion (US$569.2 million); operating margin was 62.0%, versus 63.0% in Q2 2025.
- Brokerage commission and handling-charge income grew 30.3% to HK$3.36 billion (US$428.5 million), supported by higher market trading volume.
- Interest income increased 36.5% to HK$3.12 billion (US$398.3 million), aided by income from margin financing and bank deposits.
- Other income grew 61.2% to HK$715.8 million (US$91.3 million), primarily reflecting higher foreign-exchange and IPO-financing income.
- Total trading volume climbed 78.8% year over year to a record HK$6.42 trillion; U.S.-stock trading accounted for HK$5.02 trillion and Hong Kong-stock trading HK$1.17 trillion.
- Funded accounts increased 33.6% to 3.84 million, including 252,000 net new funded accounts during the quarter.
- Client assets rose 43.6% to HK$1.40 trillion, while the margin-financing and securities-lending balance rose 85.1% to HK$95.1 billion.
- Cash and cash equivalents stood at HK$18.38 billion (US$2.34 billion) at June 30, 2026. This excludes client cash held on the balance sheet, which totaled HK$135.82 billion.
- Futu did not provide formal numerical revenue or EPS guidance for the third quarter of 2026 in its earnings release.
- The company had repurchased approximately 3.8 million ADSs for an aggregate US$418 million as of June 30 under its active repurchase authorization.
Beat or Miss?
Futu exceeded the analyst expectations cited by Investing.com. Reported diluted EPS was HK$0.23 above the cited consensus estimate, while revenue was approximately HK$1.29 billion above the stated consensus estimate.
| Metric | Reported | Difference/Analysis |
| Diluted EPS per ADS | HK$26.08 / US$3.33 | Beat the cited consensus estimate of HK$25.85 by HK$0.23. |
| Total revenue | HK$7.20 billion / US$918.2 million | Above the cited consensus estimate of HK$5.91 billion by about HK$1.29 billion, or roughly 21.8%. |
| Net income | HK$3.64 billion / US$464.4 million | Increased 41.6% year over year, outpacing the company’s 35.6% revenue growth. |
| Gross margin | 86.30% | Down 110 basis points year over year from 87.4%, reflecting a 46.9% increase in total costs. |
| Q3 2026 outlook | N/A | No formal quantitative EPS, revenue, or margin outlook was issued in the release. |
What Leadership Is Saying
Chairman and Chief Executive Officer Leaf Hua Li emphasized that the quarter’s account growth was geographically diversified and increasingly monetizable:
“In the second quarter, we added 252 thousand net new funded accounts, bringing total funded accounts to 3.8 million, up 33.6% year-over-year. Growth in funded accounts this quarter was supported by continued momentum across our international markets, reinforcing the diversification of our client base.”
Li also pointed to exceptional market activity and interest in AI-linked equities as drivers of trading volume:
“Total trading volume reached a record HK$6.42 trillion, up 78.8% year-over-year and 54.6% quarter-over-quarter, supported by a meaningful acceleration in U.S. stock trading activity.”
Chief Financial Officer Arthur Yu Chen focused his direct commentary on capital returns:
“As of June 30, 2026, we have repurchased approximately 3.8 million ADSs for an aggregate consideration of approximately US$418 million in open market transactions in accordance with the authorization under the current share repurchase program.”
Historical Performance
| Category | Q2 2026 | Q2 2025 | Change (%) |
| Revenue | HK$7.20 billion | HK$5.31 billion | 35.60% |
| Net income | HK$3.64 billion | HK$2.57 billion | 41.60% |
| Gross profit | HK$6.21 billion | HK$4.64 billion | 33.90% |
| Total costs | HK$985.4 million | HK$670.9 million | 46.90% |
| Operating expenses | HK$1.75 billion | HK$1.30 billion | 35.10% |
| Income from operations | HK$4.46 billion | HK$3.34 billion | 33.50% |
| Diluted EPS per ADS | HK$26.08 | HK$18.24 | 43.00% |
The key earnings-quality signal is that net income growth of 41.6% exceeded revenue growth of 35.6%, lifting net margin to 50.6% from 48.4%. However, the gross margin declined because total costs—especially brokerage costs, processing and servicing costs, and interest expenses—grew faster than top-line revenue.
Competitor Comparison
A strict Q2 2026 versus Q2 2025 competitor table cannot be completed reliably from Futu’s company release because it contains no peer-company earnings data. It would also be methodologically problematic to compare Futu’s quarter with competitors that report on different calendars, currencies, geographies, and business mixes without separately sourcing their filings.
| Category | Futu Q2 2026 | Futu Q2 2025 | Change (%) |
| Revenue | HK$7.20 billion | HK$5.31 billion | 35.60% |
| Net income | HK$3.64 billion | HK$2.57 billion | 41.60% |
| Operating expenses | HK$1.75 billion | HK$1.30 billion | 35.10% |
For a peer benchmarking module, relevant listed comparables would generally include Asian digital brokerages and global online brokerage platforms. A publication-ready comparison should align reported revenue, profitability, active-client metrics, client assets, trading volume, regulatory footprint, and reporting currency before concluding.
How the Market Reacted?
The company’s August 20 release did not state an immediate post-earnings share-price reaction, so no specific after-hours move should be attributed to the report without a contemporaneous market-data source. The earnings fundamentals were clearly positive: Futu surpassed the consensus figures cited by Investing.com, generated 35.6% revenue growth and 41.6% net-income growth, and recorded a quarterly trading-volume high of HK$6.42 trillion.
Still, investors may weigh the strong growth and aggressive share repurchases against a 110-basis-point gross-margin decline and sharply higher operating costs—particularly the 53.1% increase in selling and marketing expense used to support new funded-account acquisition.
