Why Swiss Banking Giant UBS' Shares Are Rising Today

Grand News Network | November 7, 2023

UBS Group AG (NYSE: UBS) shares are trading higher by around 2% after the company reported Q3 FY23 results.

Sales jumped 42% Y/Y to $11.695 billion, beating the consensus of $11.037 billion. 

Underlying profit before tax, which excludes negative goodwill, integration-related expenses, and acquisition costs, came in at $0.8 billion.

The company reported an EPS loss of $(0.24) vs. consensus of $0.17.

The quarter-end CET1 capital ratio was 14.4% and the CET1 leverage ratio was 4.9%, both in excess of current guidance of ~14% and >4.0%, respectively.

The bank reported net new ...

Full story available on Benzinga.com

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