Benzinga
  • 2 months ago
UBS reported a strong third-quarter profit, surpassing analyst expectations due to successful client migrations and Credit Suisse integration. UBS’ Investment Banking division posted strong results with increased net income, while Global Wealth Management saw a dip due to lower deposit margins. UBS CEO Sergio Ermotti credited the bank’s diversified model and highlighted resilience amid economic challenges. UBS intends to complete a $1 billion share buyback and plans further repurchases in 2025. Analysts acknowledged UBS’ robust performance but raised concerns about being too-big-to-fail.

Category

🗞
News
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02UBS reported a strong third quarter profit surpassing analysts' expectations due to
00:06successful client migrations and Credit Suisse integration.
00:10UBS's investment banking division posted strong results with increased net income,
00:15while global wealth management saw a dip due to lower deposit margins.
00:19UBS CEO Sergio Ermadi credited the bank's diversified model and highlighted resilience
00:24amid economic challenges.
00:26UBS intends to complete a $1 billion share buyback and plans further repurchases in 2025.
00:32Analysts acknowledged UBS's robust performance,
00:35but raised concerns about being too big to fail.
00:38For all things money, visit Benzinga.com slash GSTV.

Recommended

0:40
I
Up next
Credit Suisse Q1 Net Outflows Total $68.6 Billion Following Emergency Rescue by UBS
Benzinga
0:43
UBS Beats Analyst Estimates with Strong Second Quarter Profit. Integration with Credit Suisse Is Complete.
Benzinga
0:41
Deutsche Bank Exceeds Profit Expectations in Q3, Reporting Over $1.5 Billion Despite Rising Credit Loss Provisions
Benzinga
0:33
Barclays Beats Analyst Expectations with Second Quarter Profit Despite Drop in Net Interest Income
Benzinga
0:34
Goldman Sachs Q3 Earnings Beat Estimates, Profit Jumps 45%
Benzinga
0:58
Goldman Sachs Revenue Down 8%
Benzinga
0:39
Workday Shares Drop 11% After Weak Q4 Forecast, Eyes U.S. Government Expansion For Future Growth.
Benzinga
1:32
Softbank Tumbles Ahead Of Buyback
Benzinga
0:29
BP's Second Quarter Net Profit Surpasses Expectations, Dividend Raised
Benzinga
0:34
UBS' Credit Suisse Takeover Raises Questions About the Future of the ETF Arm
Benzinga
0:45
Snowflake Shares Skyrocket 32%, Achieving Best Day Since IPO After Beating Q3 Estimates
Benzinga
0:40
SoftBank Vision Fund Sees Strong Gains After Profit Rebound, Boosted by Vision Fund 1 Investments
Benzinga
0:34
Temu Parent PDD Holdings Plummets Nearly 30% After Disappointing Q2 Results. Analyst Says, 'Panic Was Overblown' and May Present a Promising Investment Opportunity
Benzinga
0:42
IBM Shares Slip On Q3 Net Loss Tied To One-Time Pension Charge
Benzinga
0:38
BP Q3 Earnings Fall to 4-Year Low Amid Lower Oil Prices. Analysts Warn of Lower 2024 Payouts.
Benzinga
0:34
Marqeta Stock Drops 30% Post-Weaker Q4 Forecast Amid Banking Sector Concerns
Benzinga
0:41
Zoom Shares Drop 4% Despite Beating Q3 Estimates With Earnings and Revenue Topping Forecasts
Benzinga
0:43
Tesla Stock Soars 22% After Earnings Beat, Posting Best Day In Over A Decade
Benzinga
0:40
Okta Beats Revenue, Profit Forecasts. Shares Spike After Earnings Beat.
Benzinga
0:35
Morgan Stanley Beats Q3 Estimates, Profits Surge More Than 30%
Benzinga
1:08
Bank to bank assistance
The Manila Times
0:34
American Airlines Raises Profit Forecast Despite Q3 Loss
Benzinga
2:30
Thousands of jobs at risk after UBS’ US$3.2 billion takeover of Credit Suisse
South China Morning Post
0:35
DocuSign Beats Revenue, EPS Estimates in Q3
Benzinga
0:58
Stock Market Forecasts For The Next Quarter
News USA