Futu (FUTU) reported Q1 net income Thursday of 6 Hong Kong dollars ($0.77) per diluted American depositary share, down from HK$15.28 a year earlier.

Analysts polled by FactSet expected HK$22.67.

Revenue for the quarter ended March 31 was HK$5.86 billion, up from HK$4.69 billion a year earlier.

Analysts polled by FactSet expected HK$5.97 billion.

The company's shares were down 3.8% in premarket activity.