Futu Reports Solid Fiscal Q2 2019 Results With Promising Operating Performance [Seeking Alpha]
Futu Holdings Limited (FHL)
Company Research
Source: Seeking Alpha
Futu Reports Solid Fiscal Q2 2019 Results With Promising Operating Performance Summary Futu Holdings went public five months ago, and now it is reporting earnings for fiscal Q2 2019. Top and bottom lines beat Wall Street estimates by significant margins. The solid growth in paying clients kept the pace seen in fiscal Q2 2019. The revenue growth was higher than that of the previous quarter, and the gross margin reached a record high. The company entered the wealth management business through a money market fund distribution platform. The fundamentals remain strong, but I would recommend to buy at a price below $10 per ADS. Intro Futu Holdings ( FHL The sentiment on the stock was bullish before the date of the earnings release In fact, EPADS beat estimates by a 20% margin (estimates of $0.05 vs. actual of $0.06), while revenue beat expectations with $33.3 million for the quarter, $3.76 million ahead of Wall Street or a 13% margin. I would say these are solid results for a company that i
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