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Futu Holdings Adds 12% As Earnings, Revenue Grow In Q2

Shares of Chinese online brokerage firm Futu Holdings Ltd. (FUTU) are climbing 12 percent on Wednesday's trading as the company posted higher second quarter earnings, helped by robust revenue growth and operating leverage.

During the three-month period, net income rose 126 percent to HK$533.9 million or $68.7 million from HK$236.5 million in the second quarter of last year. On an ADS basis, net income was HK$3.54 or $0.46, higher than HK$1.88 a year ago.

Excluding items, income climbed 127 percent to HK$550.4 million $70.9 million from HK$242.8 million in the prior-year quarter.

Total revenues came in at HK$1.58 billion or $203.1 million, up 129 percent from HK$687.6 million in the year-ago quarter.

Currently at $106.66, the stock has traded between $27.15 and $204.25 during the past 52 weeks.

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