Financial Data and Key Metrics Changes - Total group profit before tax in Q2 2025 was $2.7 billion, a 30% increase compared to the same period last year, with core businesses growing their combined pretax profits by 25% [18] - Group revenues increased by 4% to $11.5 billion, with core franchises up by 8%, while operating expenses decreased by 3% to $8.7 billion [19] - Reported EPS was $0.72, with a return on CET1 capital of 15.3% and a cost income ratio of 75.4% [19] Business Line Data and Key Metrics Changes - Global Wealth Management (GWM) pretax profit was $1.4 billion, up 24%, with a cost income ratio improvement of almost four percentage points to 77% [26] - Investment Bank delivered a pretax profit of $526 million, up 28%, with revenues increasing by 13% to $2.8 billion, driven by global markets [39] - Asset Management profit before tax was $216 million, down 5% year on year, but up 8% excluding a prior year gain [37] Market Data and Key Metrics Changes - In The Americas, GWM profit growth was 48%, while EMEA saw a 30% increase, and APAC grew profits by 12% [27] - The Investment Bank's banking revenues decreased by 22% to $521 million due to macroeconomic uncertainties [40] - Equities revenues were 20% higher than the prior year quarter, driven by a record Q2 across cash equities and equity derivatives [42] Company Strategy and Development Direction - The company aims to complete the integration of Credit Suisse by 2026, with significant progress made in migrating client accounts [7][9] - Continued investment in technology and infrastructure is prioritized to enhance client service and support employees [10] - The company is focused on maintaining a strong capital position while navigating regulatory changes in Switzerland [12][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in client readiness to deploy capital as macroeconomic conditions stabilize [6] - The ongoing debate on regulation in Switzerland is seen as a critical factor for the company's future [11] - The company maintains its 2026 targets of a return on CET1 capital of around 15% and a cost income ratio of less than 70% [15] Other Important Information - The company recorded a litigation reserve net release of $427 million related to Credit Suisse's legacy business [19] - The CET1 capital ratio was 14.4%, with a strong capital position supporting ongoing capital return objectives [8][24] - The company has reduced its overall cost base by around 11% compared to 2022, with a cumulative total of $9.1 billion in cost savings since 2022 [21] Q&A Session Summary Question: Discussion on the remaining $8 billion accrual at UBS AG and wealth management advisor numbers - Management indicated that the $8 billion accrual is expected to be upstreamed, and the equity double leverage ratio is projected to be sub 105% by year-end [49] - Regarding wealth management, management noted progress in improving pretax margins and highlighted the attractiveness of their platform for advisors [50][51] Question: Inquiry about the output floor and FX derivatives impact - Management acknowledged ongoing efforts to mitigate the impact of the output floor and confirmed that a small number of clients experienced losses related to FX derivatives [55][58] Question: Expectations on capital proposals and clarity on distribution ambitions - Management stated that clarity on capital proposals is uncertain and will depend on the legislative process, with no immediate actions planned until final rules are known [61][70] Question: Clarification on double leverage and Asian client behavior - Management confirmed expectations for the double leverage ratio and noted sustained client momentum in APAC, despite some tactical repositioning of portfolios [83]

Net profitable attributable to shareholders hit $2.395 billion in the second quarter, compared with a mean LSEG analyst forecast of $1.901 billion. The bank's revenues over the period reached $12.112 billion, just below analyst expectations of $12.45 billion. This breaking news story is being updated. A logo of Swiss banking giant UBS in Zurich, on March 23, 2023. Swiss banking titan UBS on Wednesday beat expectations on the bottom line, as group invested assets soared on the back of increases in the lender ...

Core Insights - MarketWise, Inc. is a leading multi-brand digital subscription services platform focused on providing premium financial research, software, education, and tools for self-directed investors [4][5] - The Chief Financial Officer, Erik Mickels, will participate in one-on-one meetings at the UBS 2025 Fintech One-on-One Conference on September 10, 2025, in New York City [1] - The UBS 2025 Fintech One-on-One Conference aims to provide access to management teams to discuss advancements in technology and data within the financial sector [3] Company Overview - MarketWise has over 25 years of operating history and serves millions of free and paid subscribers [5] - The company offers a range of products that are recognized as high-value sources for financial research, education, actionable investment ideas, and investment software [5] - MarketWise operates as a 100% digital, direct-to-customer company, delivering its research across various platforms including mobile, desktops, and tablets [5] - The company's vision is to become the leading financial solutions platform for self-directed investors [5]

Core Viewpoint - Qualcomm Inc. is at a pivotal moment as it prepares to report earnings, with the stock having gained nearly 30% since April, contrasting with more volatile peers like NVIDIA and AMD [1][3]. Financial Performance - Qualcomm's stock is currently trading around $161.05, with a P/E ratio of 16.40 and a dividend yield of 2.21% [2]. - The stock has shown a consistent pattern of higher lows and higher highs, indicating a stable uptrend [2]. - Qualcomm has exceeded analyst expectations for seven consecutive quarters, which builds confidence among investors [3]. Market Position - Qualcomm trades at a significant discount compared to industry peers, with its P/E ratio below 17, while NVIDIA and AMD have P/E ratios above 55 and 120, respectively [4]. - JPMorgan has raised its price target for Qualcomm to $200, suggesting a potential upside of 25% from current levels [5]. Growth Opportunities - Qualcomm is well-positioned to benefit from a recovery in cloud infrastructure spending and is expanding its presence in the automotive and IoT sectors [6]. - The upcoming earnings report is crucial as it may confirm whether Qualcomm is transitioning from a stagnant performer to a stock poised for significant growth [7]. Analyst Sentiment - There is a mix of opinions on Qualcomm's future, with JPMorgan being bullish while UBS maintains a Neutral rating due to macroeconomic challenges [7]. - The average 12-month stock price forecast for Qualcomm is $183.95, indicating a potential upside of 14.22% [8]. Investment Strategies - Investors have two approaches regarding the upcoming earnings report: one is to buy into pre-earnings optimism based on JPMorgan's target, and the other is to wait for confirmation of a breakout above July's high of $164 [9][10]. - The consistent earnings performance and recent price target upgrades suggest a potential shift in the investment narrative for Qualcomm [11].

Core Insights - UBS has consistently surpassed earnings estimates, averaging a 75.71% beat over the last two quarters [1][5] - The most recent earnings report showed UBS earning $0.42 per share against an expectation of $0.51, resulting in a 21.43% surprise [2] - In the previous quarter, UBS reported $0.23 per share compared to an estimate of $0.1, achieving a 130.00% surprise [2] Earnings Estimates and Predictions - There has been a favorable change in earnings estimates for UBS, with a positive Earnings ESP of +30.81%, indicating bullish sentiment among analysts [5][8] - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high probability of another earnings beat [5][8] - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [6] Earnings ESP Explanation - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [7] - A negative Earnings ESP reduces predictive power but does not necessarily indicate an earnings miss [9] - It is crucial to check a company's Earnings ESP before quarterly releases to enhance the likelihood of successful investment decisions [10]

Our next guest says the rally makes sense. Thinks the S&P could hit 6,700 by year end. Joining us here at Post 9 is UBS Global Wealth senior portfolio manager Alan Rexavan.Allan, welcome back. Good to see you. >> Good to see you, Carl.>> We do have a couple year-end targets with a seven handle. Do you think you might get there. >> Look, uh I think that what we've seen is this rally represents the the prices catching up with policy.People now have faith in the tariff negotiation strategy of the president. An ...

Cranswick sales rise on protein demand, Starmer to talk trade with Trump and we speak to UBS' Bhanu Baweja -- get briefed ahead of your morning calls with The London Rush https://t.co/SkMUbtekuP ...

Contract Termination - UBS terminates a multimillion dollar contract with BlackRock's Aladdin technology platform [1] - The contract was inherited from Credit Suisse [1] Technology Platform - The terminated contract involves BlackRock's Aladdin technology platform [1]

Legal & Compliance - A billionaire has been campaigning for five years to investigate Credit Suisse and later UBS for mishandling Holocaust victims' money [1] - The campaign is nearing completion [1]

Financial Data and Key Metrics Changes - The company's EPS for the quarter was reported at $1.78, which includes significant one-time items that impacted EPS by $0.60, while excluding these items, the adjusted EPS would be $1.20, reflecting an increase from both the prior year and prior quarter [16][17] - Consolidated operating margins improved slightly year over year but declined sequentially due to one-time expenses in corporate overhead [19][20] Business Line Data and Key Metrics Changes - Private banking revenue increased both year over year and sequentially, supported by larger clients going live in the quarter [16] - Investment managers revenue grew by 8% year over year, with double-digit growth in alternatives, offsetting a 1% decline in traditional revenue [17] - Advisor and institutional businesses realized flat sequential revenue growth, with market appreciation in May and June offsetting significant declines in April [17] Market Data and Key Metrics Changes - AUM net flows for advisor and institutional businesses were negligible year to date, significantly improving from the first half of the previous year [22] - Traditional mutual fund outflows were largely offset by growth in models and custom portfolios, indicating a shift in resource allocation towards tax-sensitive ETFs and SMAs [23] Company Strategy and Development Direction - The company announced a strategic investment in Stratos, aiming to integrate Stratos' client-centric model with SEI's technology and investment management capabilities, enhancing their position in the wealth management landscape [5][6] - The focus remains on flawless execution to ensure client satisfaction, with proactive investments in talent, technology, and platforms [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength and depth of their sales pipeline, despite temporary delays in private banking due to market volatility [36][37] - The competitive landscape is shifting in favor of the company, with increased interest in outsourcing from banks and alternative asset managers [9][10] Other Important Information - The company has returned significant capital to shareholders, with buybacks exceeding $700 million on a trailing twelve-month basis [24] - The upcoming Investor Day is expected to provide deeper insights into the company's strategic priorities and anticipated outcomes [26] Q&A Session Summary Question: Key investments in talent and technology - Management highlighted investments in talent and technology, particularly in IMS to streamline systems for better scalability and cost efficiency [29][30] Question: Temporary delays in private banking - Management attributed delays to market conditions in April but emphasized a strong pipeline moving forward [34][36] Question: Differentiation of Stratos acquisition - Management noted Stratos' experienced executive team, centralized investment platform, and cultural fit as key differentiators [42][44] Question: Sales cycle characterization and drivers of strength - Management indicated a robust pipeline across all segments, particularly in alternatives, with a focus on strategic outsourcing partnerships [55][58]