UBS Stock Recent News
UBS LATEST HEADLINES
UBS Group (UBS) shares rose Wednesday after the Swiss banking giant's second-quarter earnings beat estimates, thanks to growth in its wealth management divisions and savings created as it merges operations with Credit Suisse.
UBS (UBS) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $1.88 per share a year ago.
UBS CEO Sergio Ermotti said Wednesday that market volatility could intensify in the second half of the year, but he does not believe the U.S. is heading into a recession. Global equities saw sharp sell-offs last week as investors digested weak economic data out of the U.S. which raised fears about an economic downturn in the world's largest economy.
UBS on Tuesday agreed to sell Credit Suisse's U.S. mortgage servicing business, UBS Chief Financial Officer Todd Tuckner said on Wednesday.
UBS Group AG (NYSE:UBS) shares opened 1.4% higher on Wednesday following the bank's stronger-than-expected second-quarter results, reporting a net profit of $1.1 billion - double analysts' forecasts. The impressive performance was driven by gains in the investment banking sector and progress in integrating Credit Suisse.
Swiss banking giant UBS posts a second-quarter beat on both the top and bottom line with a net profit of $1.1bn. The lender's global wealth management arm also notched $27bn of net new assets.
UBS CEO Sergio Ermotti discusses second-quarter earnings, market volatility and the outlook for Federal Reserve interest rates. He spoke with Francine Lacqua in Zurich after the Swiss lender posted higher than expected profit and saw strong client inflows in its key key wealth management business.
UBS reported on Wednesday a net profit of $1.14 billion for the April-June period, the first results since the completion of the bank's formal legal merger with its one-time rival Credit Suisse.
Analysts expected revenue of $11.5 billion, according to an LSEG poll.
UBS Group on Wednesday reported a net profit of $1.14 billion attributable to shareholders in the second quarter, which compared with the $528 million forecast by analysts in a company-provided poll.