UBS Trades Higher During Pre-Market After Swiss Bank Tops Earnings Estimates With $1.4B Profit In Q3
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Swiss bank UBS Group AG (NYSE:UBS) has announced impressive financial results for the third quarter of 2024. Following the earnings report, the stock rose 2.07% during the pre-market on Wednesday after closing at $32.82 on Tuesday.
What Happened: UBS reported $12.3 billion in revenues, beating the Wall Street estimates of $10.7 billion while its earnings-per-share (EPS) was reported to be 0.43, beating the estimates by 53.57%.
The bank made a net profit of $1.4 billion for the quarter, with a return on CET1 capital (RoCET1) of 7.6% and an underlying RoCET1 of 9.4%.
It experienced strong client momentum, with $25 billion in net new assets in Global Wealth Management, aligning with …
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