Trending: UBS Shares Jump After Results Beat Expectations
0923 GMT - UBS Group is among the most mentioned companies across news items over the past four hours, according to Factiva data. The Swiss banking giant reported first-quarter results that beat analysts' expectations across the board, sending shares up 8.5% to CHF27.01. UBS reported a quarterly net profit of $1.755 billion on revenue of $12.74 billion, which compared with consensus expectations of $602 million and $11.95 billion, respectively. Underlying pretax profit came in at $2.62 billion, ahead of consensus forecasts of $1.51 billion. UBS benefited from efforts to shrink its unit that houses noncore and legacy assets acquired from Credit Suisse, and its key global wealth management business saw net new assets of $27 billion in the quarter. Dow Jones & Co. owns Factiva. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
May 07, 2024 05:39 ET (09:39 GMT)
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