UBS Group AG (UBS) reported a second-quarter 2024 net profit attributable to shareholders of $1.13 billion, which declined from $27.3 billion in the prior-year quarter. The prior-year quarter’s figure included a negative goodwill of $27.2 billion, resulting from the acquisition of Credit Suisse Group.Results were affected due to an increase in operating expenses. Nonetheless, a rise in total revenues, driven by the acquisition of Credit Suisse acted as a tailwind. The decrease in credit loss expenses was an ...

Key TakeawaysUBS shares rose Wednesday after the banking giant's second-quarter results beat estimates, with profits more than double analysts' expectations.The Swiss bank's merger with former rival Credit Suisse helped UBS cut costs and generate new business.UBS warned the second half of the year could be "clouded" with uncertainties like ongoing global conflict and the U.S. presidential election. UBS Group (UBS) shares rose Wednesday after the Swiss banking giant's second-quarter earnings beat estimates, ...

UBS Group AG (NYSE:UBS) Q2 2024 Earnings Conference Call August 14, 2024 3:00 AM ET Company Participants Sarah Mackey - Head of Investor Relations Sergio Ermotti - Group Chief Executive Officer Todd Tuckner - Group Chief Financial Officer Conference Call Participants Giulia Miotto - Morgan Stanley Andrew Coombs - Citi Jeremy Sigee - BNP Paribas Kian Abouhossein - JPMorgan Anke Reingen - RBC Chris Hallam - Goldman Sachs Amit Goel - Mediobanca Benjamin Goy - Deutsche Bank Tom Hallett - KBW Operator Ladies and ...

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. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 183.33%. A quarter ago, it was expected that this bank would post earnings of $0.23 per share when it actually produced earnings of $0.52, delivering a surprise of 126.09%.Over the last four quarters, the company has surpassed ...

ZURICH, Switzerland ꟷ 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. It also raised questions about whether the Federal Reserve needed to be less hawkish with its monetary policy stance. The central bank kept ...

General view of the UBS building in Manhattan, New York City, on June 5, 2023.Swiss banking giant UBS on Wednesday smashed net profit expectations for the second quarter, as revenue came in higher than expected. Net profit attributable to shareholders came in at $1.136 billion for the period, versus a company-compiled consensus forecast of $528 million.UBS had swung back to profit in the first quarter after two quarterly losses, but it warned that its net interest income would fall in both its global wealth ...

NASHVILLE, TENNESSEE - SEPTEMBER 2, 2019: UBS Tower in Nashville, Tennessee, is home to regional ... [+] offices of the Swiss multinational investment bank and financial services company. (Photo by Robert Alexander/Getty Images)Getty ImagesUBS Group is scheduled to report earnings before Wednesday’s open. The stock hit a record high of $66.26/share in 2007 and is currently trading near $29. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, ...

SALT LAKE CITY, Aug. 8, 2024 /PRNewswire/ -- Sera Prognostics Inc., The Pregnancy Company® (NASDAQ: SERA), focused on improving maternal and neonatal health by providing innovative pregnancy biomarker information to doctors and patients, today announced that its management team will participate in the following upcoming investor conference: UBS Genomic Medicine Summit, August 13-14. President and Chief Executive Officer, Zhenya Lindgardt, will participate in a panel discussion: Future of Genetic Testing – B ...

The market expects UBS (UBS) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on August 14, 2024, might help the stock move higher if these key numbers are better than ...

UBS Group AG (UBS) sued Bank of America (BAC) yesterday for $200 million. The lawsuit, filed in a New York state court in Manhattan, alleged that the latter refused to cover the legal costs associated with risky mortgages issued before the 2008 financial crisis, per the Reuters report.The Swiss bank packaged mortgages from Countrywide Financial, which was acquired by Bank of America in 2008, into securities. The bank stated that Countrywide agreed to indemnify it against any claims that the mortgages were i ...