UBS Stock Is Surging. The Swiss Bank’s Earnings Topped Estimates.
Posted on AllSides August 14th, 2024
From The Center
Shares of UBS surged after the Swiss bank beat second-quarter earnings estimates and its wealth management unit showed healthy growth in net new assets.
UBS reported net profit of $1.14 billion compared with Wall Street expectations of $528 million, according to a consensus estimate compiled by the Swiss bank. The company’s bottom line got a boost from investment banking and wealth management, two of its most important business lines.
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