UBS Posts $2.8 Billion Profit to Beat Forecast, Launches $3 Billion Buyback
UBS reported a second-quarter net profit of $2.8 billion, beating analyst estimates, and announced a new $3 billion share repurchase program. The buyback initiative will run through mid-2027 to provide capital distribution visibility as the Swiss bank wraps up its acquisition timeline.
Trading revenue strength propelled the earnings beat, pushing shares up as much as 3.7% in trading. Chief Executive Officer Sergio Ermotti said the integration of Credit Suisse is nearly complete, and the bank remains on track to meet its 2026 exit-rate return targets and cost ratio goals.
From the sources (10 posts)
@firstsquawkUBS targets completion of Credit Suisse merger integration by year-end, announces $1 bln minimum share repurchase plan.
@firstsquawkUBS CEO says bank is well positioned to outperform 2026 exit-rate return targets and meet cost/income ratio goals.
@firstsquawkUBS Plans New $3 Billion Buyback After Net Profit Rises-WSJ
@reutersbizUBS flags $3 billion in new buybacks by end-June after forecast-beating quarter
@reutersbizUBS reports Q2 net profit of $2.8 billion, beating expectations
@businessUBS Group announced a new $3 billion share buyback program to run until mid-2027, giving investors more clarity on payouts amid ongoing uncertainty over the bank’s future capital requirements
@firstsquawkUBS GAINS AS MUCH AS 3.7% AFTER RESULTS
@ftUBS joins Wall Street rivals in trading-led profit surge
@businessUBS CEO Sergio Ermotti says the integration of former rival Credit Suisse is almost done as Switzerland’s largest bank draws a line under the historic takeover
@reutersbizUBS posts forecast-beating quarterly profit, flags $3 billion in new buybacks