Why Futu Shares Are Falling

Futu Holdings Ltd FUTU shares are trading lower by 8.10% to $45.32 Tuesday morning after the company reported fourth-quarter financial results.

What Happened?

Futu reported quarterly earnings of 92 cents per share which beat the analyst consensus estimate of 70 cents by 31.43 percent.

The company also reported quarterly sales of $292.34 million which beat the analyst consensus estimate of $237.12 million by 23.3%. This sales figure represents a 42.3% increase over sales of $205.50 million in the same period last year.

See Also: Why Viking Therapeutics Stock Is Soaring Tuesday

What Else?

Per Futu, and among the company's fourth-quarter and FY22 operational highlights:

• Total number of paying clients increased 19.5% year-over-year to 1,486,980 as of December 31, 2022.
• Total number of registered clients increased 17.5% year-over-year to 3,232,339 as of December 31, 2022.
• Total number of users increased 12.7% year-over-year to 19.6 million as of December 31, 2022.

According to data from Benzinga Pro, FUTU has a 52-week high of $72.20 and a 52-week low of $26.84.