UBS - Why UBS Shares Are Seeing Blue Skies Today | Benzinga
UBS Group AG (NYSE:UBS) shares are trading higher after it reported first-quarter FY24 sales of $12.74 billion, up 46% Y/Y, beating the consensus of $12.02 billion.
Underlying operating profit reached $2.62 billion, higher than $1.57 billion a year ago.
Global Wealth Management’s net new assets for the first quarter were $27.4 billion, with revenues increasing 28% Y/Y to $6.14 billion.
The group posted a net profit attributable to shareholders of $1.76 billion for the quarter, higher than $1.03 billion a year ago. EPS of $0.52 beat the consensus of $0.24.
CET1 capital ratio, a measure of bank liquidity, was 14.8%, compared to 14.4% the previous quarter and 13.9% a year ago.
“A little over a year ago, we were asked to play a critical role in stabilizing the Swiss and global financial systems through the acquisition of Credit Suisse and we are delivering on ...