The strong Q2 beat across revenue, earnings, and user growth reinforces the bullish thesis for FUTU. The record trading volume suggests continued retail engagement. The Q3 Moonshot catalyst includes a Thailand license launch — geographic expansion that could sustain account growth momentum. Watch the earnings call for updated guidance on commission rate trends and expense growth trajectory.
Price Chart
Executive Summary
Futu reported Q2 2026 earnings with revenue up 35.6% YoY to HK$7.2B and net income up 41.6% YoY to HK$3.64B, driven by record trading volume (+78.8% YoY) and strong client asset growth. Diluted EPS/ADS of HK$26.08 beat the prior year's HK$18.24, and all key operational metrics (funded accounts, trading volume, margin balances) showed robust growth.
Key Facts
- Revenue +35.6% YoY to HK$7,200.2M (US$918.2M)
- Net income +41.6% YoY to HK$3,641.9M (US$464.4M)
- Total trading volume +78.8% YoY to a record HK$6.42 trillion
- Funded accounts +33.6% YoY to 3.84M as of June 30, 2026
- Total client assets +43.6% YoY to HK$1.40 trillion
- Diluted EPS/ADS HK$26.08 vs HK$18.24 in Q2 2025
- Gross margin slightly declined to 86.3% from 87.4% YoY
Financial Impact
Revenue increased ~HK$1.9B YoY; net income increased ~HK$1.07B YoY; EPS/ADS beat HK$7.84 diluted YoY
Risk Factors
- Gross margin contracted 110bps YoY from 87.4% to 86.3% due to higher processing/servicing costs
- Selling and marketing expenses surged 53.1% YoY, outpacing revenue growth; if this fails to sustain funded account growth, margins could compress further
- Quarterly net income declined sequentially from H1 2025 to H1 2026 (HK$4.7B vs HK$4.5B on a six-month basis) — requires monitoring
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-098911 |
| Document: tm2623384d1_6k.htm | 0001104659-26-098911 |
| Document: 0001104659-26-098911-index-headers.html | 0001104659-26-098911 |
| Document: 0001104659-26-098911-index.html | 0001104659-26-098911 |
| Document: 0001104659-26-098911.txt | 0001104659-26-098911 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | Institutional Cluster | $98.92 $99.19 | ▲ +0.27% | ▲ +0.80% | $101.34 (+2.45%) |
Aug 27, 2026 8w ago | Press Release | $124.57 $124.26 | ▼ −0.25% | ▼ −0.02% | $101.34 (−18.65%) |
Aug 20, 2026 9w ago | 6-K | $112.73 $123.64 | ▲ +9.68% | ▲ +9.27% | $101.34 (−10.10%) |
Aug 20, 2026 9w ago | Press Release | $112.73 $123.64 | ▲ +9.68% | ▲ +9.27% | $101.34 (−10.10%) |
Aug 7, 2026 11w ago | Press Release | $109.02 $108.70 | ▼ −0.29% | ▼ −0.26% | $101.34 (−7.04%) |
Jun 4, 2026 20w ago | Press Release | $95.78 $92.33 | ▼ −3.60% | ▼ −1.00% | $101.34 (+5.80%) |
May 28, 2026 21w ago | 6-K | $104.91 $104.07 | ▼ −0.80% | ▼ −1.04% | $101.34 (−3.40%) |
May 28, 2026 21w ago | Press Release | $104.91 $104.07 | ▼ −0.80% | ▼ −1.04% | $101.34 (−3.40%) |
May 27, 2026 21w ago | Press Release | $104.91 $104.07 | ▼ −0.80% | ▼ −1.04% | $101.34 (−3.40%) |
May 27, 2026 21w ago | Press Release | $110.22 $104.91 | ▼ −4.82% | ▼ −5.37% | $101.34 (−8.06%) |
US Market Status
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