Why Futu Holdings Shares Are Falling

Futu Holdings Ltd FUTU shares are trading lower by 11.7% at $24.91 after the company reported fourth-quarter earnings results.

Futu Holdings missed estimated earnings by 57.14%, reporting EPS of 45 cents versus the analyst consensus estimate of $1.05.

Revenue of $205.50 million missed the analyst consensus estimate of $281.17 million.

Among the highlights from the fourth-quarter, Futu says:

• Total number of paying clients increased 140.8% year-over-year to 1,244,222 as of December 31, 2021
• Total number of registered clients increased 93.8% year-over-year to 2,751,239 as of December 31, 2021
• Total number of users increased 45.8% year-over-year to 17.4 million as of December 31, 2021
• Total client assets increased 43.0% year-over-year to HK$407.8 billion as of December 31, 2021

See Also: Kevin O'Leary Dumps Bitcoin Mining Stocks After 'Really Bad News': What Investors Need To Know

Futu Holdings has a 52-week high of $181.44 and a 52-week low of $24.05.