Analysts expected revenue of $11.5 billion, according to an LSEG poll.
UBS reported net profit attributable to shareholders came in at $1.136 billion for the period, versus a company-compiled consensus forecast of $528 million.
Net profit attributable to shareholders came in at $1.136 billion for the period, versus a company-compiled consensus forecast of $528 million.Group revenue also beat forecasts in the second quarter, coming in at $11.904 billion versus an LSEG-compiled poll of $11.522 billion. On the profit beat, Ermotti said:"It's a combination of good momentum on the top-line, but also good progress on cost reductions."
UBS said it now expects to end 2024 with cumulative gross savings from the Credit Suisse deal of $7 billion, out of a target of $13 billion by 2026 compared with a 2022 baseline. It had previously aimed to deliver $6.5 billion in savings by the end of the year."What's next is a few years of work.
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