11:45 AM EDT, 03/14/2024 (MT Newswires) -- (Updates with stock move in the headline and first paragraph.)

Futu Holdings ( FUTU ) shares were down more than 11% in recent trading on Thursday after the company reported Q4 income and revenue below consensus.

The company posted Q4 net income of 6.31 Hong Kong dollars ($0.81) per diluted American depositary share, down from HK$6.80 a year earlier.

Two analysts polled by Capital IQ expected HK$6.76.

Revenue for the quarter ended Dec. 31 was HK$2.37 billion, up from HK$2.28 billion a year earlier.

Two analysts surveyed by Capital IQ expected HK$2.64 billion.

Additionally, the company's board authorized a new share repurchase plan of $500 million of Futu's ( FUTU ) American depositary shares through Dec. 31, 2025. The company intends to finance the repurchase from its current cash.

Price: 57.89, Change: -7.51, Percent Change: -11.48