UBS second-quarter earnings 2024

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UBS second-quarter earnings 2024

General view of the UBS building in Manhattan, New York City, on June 5, 2023.

Eduardo Munoz Alvarez | View Press | Corbis News | Getty Images

Swiss banking giant UBS on Wednesday smashed net profit expectations for the second quarter, as revenue came in higher than expected.

Net profit attributable to shareholders came in at $1.136 billion for the *******, versus a company-compiled consensus forecast of $528 million.

UBS had swung back to profit in the first quarter after two quarterly losses, but it warned that its net interest income would fall in both its global wealth management and its personal and corporate banking divisions.

It has now been over a year since UBS completed the legal takeover of Credit Suisse, triggering a huge integration process and forming a wealth management juggernaut.

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