UBS Profit Jumps 80%, Beats Expectations
UBS reported first-quarter net profit of $3.0 billion, up 80% and beating expectations, with trading gains helping drive the increase. The bank's wealth-management business in the Americas also showed tentative signs of revival after a period of client fund outflows and departures by key staff.
UBS said it intends to add to this year's share buyback tally, and Chief Executive Officer Sergio Ermotti said the bank plans to complete its $3 billion buyback by the end of July.
From the sources (7 posts)
@businessUBS Group confirmed its intention to add to the $3 billion tally of share buybacks this year, after a quarter in which profit surged
@cnbcUBS profits rocket 80% to $3 billion for first quarter beat
@ftUBS profits soar 80%, fuelled by trading gains
@wallstengine$UBS posted Q1 net profit of $3.04B, up from $1.69B a year ago and above the $2.33B estimate, as investment banking revenue jumped 31% and wealth management brought in $37.4B of net new money. The bank also said it remains on track with its
@reutersbizUBS reports Q1 net profit of $3.0 billion, beating expectations
@businessUBS's wealth-management business in the Americas showed tentative signs of revival after a period of client fund outflows and departures by key staff
@businessUBS Group CEO Sergio Ermotti says the bank intends to complete its $3 billion buyback "by the end of July"