UBS profits in Q1 record $1.5bn, beat expectations

UBS profits in Q1 record $1.5bn, beat expectations

Mubasher: UBS, a Swiss multinational investment bank and financial services company, on Monday announced achieving a profit of 1.51 billion Swiss francs ($1.55 billion) during the first three months of 2018 compared to CHF 1.26 billion in the same period a year ago.

The Swiss bank's profits came in higher than analysts’ expectations of CHF 1.38 billion profits.

Earnings per share (EPS) increased to CHF 0.39 in Q1-18 versus CHF of 0.33 Swiss francs in the year-ago period.

Operating profits grew to CHF 7.69 billion between January and March from CHF 7.53 billion in the corresponding period of 2017, in line with analysts' forecasts of CHF 7.64 billion in operating profits during the period.

Source: Mubasher Exclusive