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We expect the company to see a rise in revenues during the quarter on the back of new customer wins, a strong retention rate, enhanced user accessibility and healthy revenues generated by providing market information.
The Zacks Consensus Estimate for Futu Holdings’ revenues in the to-be-reported quarter is pegged at $338.72 million, indicating a 36.7% increase from the year-ago reported figure. The company’s growth is expected to be driven by an increase in the number of registered and paying clients, users and client assets.
Futu Holdings has been investing in offline marketing to attract an older client base. The company is likely to reap the benefits of improvement in the U.S. markets and the rising yield from the money market. Increasing product offerings and the Japanese approver’s nod for the brokerage business of Moomoo Security are expected to be a positive to FUTU’s revenues.
Here are a few stocks from the broader Business Services sector that have registered better-than-expected results
S&P Global Inc. (SPGI - Free Report) reported impressive third-quarter results, wherein earnings and revenues beat the Zacks Consensus Estimate.
SPGI’s adjusted earnings per share (excluding 88 cents from non-recurring items) of $3.21 rose 9.6% year over year and beat the consensus estimate by 5.3%. Revenues of $3.08 billion surpassed the consensus estimate by 2% and improved 8% year over year, backed by solid performance in all divisions.
Verisk Analytics Inc.(VRSK - Free Report) reported impressive third-quarter 2023 results, wherein earnings and revenues beat the respective estimates.
VRSK’s adjusted earnings (excluding 23 cents from non-recurring items) were $1.52 per share, beating the Zacks Consensus Estimate and increasing 4.1% from the year-ago reported figure. Its performance was supported by strong growth in underwriting data solutions, life insurance and extreme events solutions.
Fiserv, Inc.(FI - Free Report) reported impressive third-quarter 2023 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.
FI’s adjusted earnings per share (excluding 40 cents from non-recurring items) of $1.96 exceeded the consensus mark by 1% and increased 20% year over year. Adjusted revenues of $4.62 billion surpassed the consensus estimate by 0.53% and increased 8.2% year over year.
Organic revenue growth was 12% in the quarter, driven by 20% and 6% growth in the Acceptance and Payments segments, respectively.
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Will Futu Holdings (FUTU) Gain From Rising Revenues in Q3?
Futu Holdings Limited (FUTU - Free Report) is scheduled to report its third-quarter 2023 results on Nov 23 before the opening bell.
We expect the company to see a rise in revenues during the quarter on the back of new customer wins, a strong retention rate, enhanced user accessibility and healthy revenues generated by providing market information.
The Zacks Consensus Estimate for Futu Holdings’ revenues in the to-be-reported quarter is pegged at $338.72 million, indicating a 36.7% increase from the year-ago reported figure. The company’s growth is expected to be driven by an increase in the number of registered and paying clients, users and client assets.
Futu Holdings Limited Sponsored ADR Revenue (TTM)
Futu Holdings Limited Sponsored ADR revenue-ttm | Futu Holdings Limited Sponsored ADR Quote
Futu Holdings has been investing in offline marketing to attract an older client base. The company is likely to reap the benefits of improvement in the U.S. markets and the rising yield from the money market. Increasing product offerings and the Japanese approver’s nod for the brokerage business of Moomoo Security are expected to be a positive to FUTU’s revenues.
FUTU has a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings Snapshot
Here are a few stocks from the broader Business Services sector that have registered better-than-expected results
S&P Global Inc. (SPGI - Free Report) reported impressive third-quarter results, wherein earnings and revenues beat the Zacks Consensus Estimate.
SPGI’s adjusted earnings per share (excluding 88 cents from non-recurring items) of $3.21 rose 9.6% year over year and beat the consensus estimate by 5.3%. Revenues of $3.08 billion surpassed the consensus estimate by 2% and improved 8% year over year, backed by solid performance in all divisions.
Verisk Analytics Inc.(VRSK - Free Report) reported impressive third-quarter 2023 results, wherein earnings and revenues beat the respective estimates.
VRSK’s adjusted earnings (excluding 23 cents from non-recurring items) were $1.52 per share, beating the Zacks Consensus Estimate and increasing 4.1% from the year-ago reported figure. Its performance was supported by strong growth in underwriting data solutions, life insurance and extreme events solutions.
Fiserv, Inc.(FI - Free Report) reported impressive third-quarter 2023 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.
FI’s adjusted earnings per share (excluding 40 cents from non-recurring items) of $1.96 exceeded the consensus mark by 1% and increased 20% year over year. Adjusted revenues of $4.62 billion surpassed the consensus estimate by 0.53% and increased 8.2% year over year.
Organic revenue growth was 12% in the quarter, driven by 20% and 6% growth in the Acceptance and Payments segments, respectively.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.