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Best performing UBS sector in Q3 2024
3
Resolution / Starting Odds
Wealth Management performs best • 33%
Investment Banking performs best • 33%
Other sectors perform best • 34%
Q3 2024 UBS financial report
Story
UBS Reports $1.76B Q1 Profit, Surpasses Estimates Post-Credit Suisse Takeover
May 7, 2024, 05:10 AM
UBS Group AG reported a significant first-quarter profit of $1.76 billion, surpassing expectations with earnings attributable to shareholders. This marks the first profit for UBS since its acquisition of Credit Suisse, indicating a strong performance across its wealth management and investment banking sectors. The company also achieved a profit before tax of $2.38 billion, and an underlying profit before tax of $2.6 billion, both figures substantially higher than the consensus estimates of $1.04 billion and $602 million, respectively. Additionally, UBS realized $1 billion in gross cost savings during the quarter, contributing to a total of approximately $5 billion, with plans to achieve an additional $1.5 billion by the end of 2024.
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Europe • 25%
North America • 25%
Asia • 25%
Rest of the World • 25%
Profit exceeds expectations • 33%
Profit meets expectations • 33%
Profit falls short of expectations • 34%
Wealth Management • 33%
Investment Banking • 33%
Non-Core Business • 33%
Capital Markets • 33%
Domestic Banking • 33%
Wealth Management • 34%
Technology • 25%
Healthcare • 25%
Finance • 25%
Basic industries • 25%
Technology • 25%
Retail • 25%
Automotive • 25%
Real Estate • 25%
Technology • 25%
Financials • 25%
Industrials • 25%
Health Care • 25%
Technology • 25%
Healthcare • 25%
Financials • 25%
Consumer Goods • 25%
Technology • 20%
Financials • 20%
Consumer Goods • 20%
Healthcare • 20%
Energy • 20%
Technology • 25%
Financials • 25%
Consumer Goods • 25%
Energy • 25%