RTTNews | Mar 16, 2021 09:59AM EDT

09:58 Tuesday, March 16, 2021 (RTTNews.com) - Shares of Chinese online brokerage and wealth management platform Futu Holdings Limited (FUTU) are climbing more than 9% Tuesday morning on better-than-expected fourth-quarter results.

Net income in the fourth quarter increased 11.1 times year-over-year to $68.7 million or $0.49 per ADS, helped by robust revenue growth. The consensus estimate is at $0.45 per share.

Total revenues increased 281.6% year-over-year to $153.0 million. this compares with the Street view of $141.81 million.

The company said that total number of paying clients increased 160.5% year-over-year to 516,721 as of December 31, 2020.

FUTU, currently at $162.49, has been trading in the range of $8.16- $204.25 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3177868/stock-alert-futu-holdings-climbs-9-following-better-than-expected-quarterly-results.aspx)

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