08:59 AM EDT, 03/14/2024 (MT Newswires) -- (Updates with the stock buyback plan in the fifth paragraph and the latest stock movement in the sixth paragraph.)

Futu Holdings ( FUTU ) posted Q4 net income Thursday 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.

Shares of the financial services company were down 6.7% in recent Thursday premarket activity.

Price: 61.02, Change: -4.38, Percent Change: -6.7