Futu Holdings Ltd ADR up 18.13% to $43.65 after earnings
Futu Holdings Ltd (FUTU) exceeded profit forecast on 06/06/2022 for the first quarter of 2022.
Futu Holdings Ltd ADR earnings reached EPS of $0.53 per share. The company’s earnings are down 49% since reporting $1.03 per share in the same period a year ago. Please keep in mind that reported earnings were on an adjusted basis, so they may not be comparable to previous reports and/or analyst estimates.
Revenue was optimistic at $209.5 million. This turnover represents a decrease of 26.12% compared to the quarter of the previous year.
The stock is up 18.13% at $43.65 after the report.
The higher growth of the company’s revenue compared to profits indicates that the company has not been able to cut costs and has seen its profit margin shrink.
The average recommendation from Wall Street analysts was a buy that could be revised based on this new data.
Trading in the five days leading up to the report earned Futu Holdings Ltd ADR a neutral sentiment ranking of InvestorsObserver.
Futu Holdings Ltd ADR has performed slightly below average over the past few months. Prior to the report, Futu Holdings Ltd ADR received a long-term technical rating by InvestorsObserver of 47, putting it in the bottom half of the stock. The company was recently trading at a 52-week low of $21.23 on March 14, 2022 and set a 52-week high on June 30, 2021 at $181.44.
Futu Holdings Ltd is an online broker providing one-stop online investment services. The Company provides its services through its Futu NiuNiu digital platform, which includes market data, trading service and stock market information from Hong Kong, Mainland China, Singapore and the United States. It generates its revenue in the form of brokerage commissions and handling fee services.