Futu revenue jumps 25% in Q1 as net income tumbles 61%

Futu Holdings (NASDAQ:FUTU) reported a 24.7% increase in total revenue for the first quarter of 2026, driven by sustained transaction volume across its digital brokerage and wealth management platforms.

However, the company's ultimate profitability experienced a steep contraction, with net income dropping more than 61% compared to the prior-year period.

Total revenues for the tech-driven online broker reached HK$5,856 million (US$746.9 million) for the three-month period ended March 31, 2026.

The top-line expansion was mirrored by gains in core trading efficiency, as total gross profit climbed 29.4% year-over-year to HK$5,106.7 million (US$651.4 million).

Despite the healthy revenue and gross profit trajectories, Futu witnessed a significant compression in its bottom-line earnings.

Net income for the first quarter plummeted 61.2% year-over-year to HK$831 million (US$106 million).

On an adjusted, non-GAAP basis—which typically excludes share-based compensation and specific non-recurring operational items—net income registered a 58.5% year-over-year decline, landing at HK$919.5 million (US$117.3 million).