UBS AG (NYSE:UBS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.36%.
UBS AG Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 63.64% to $0.18 in the quarter versus EPS of $0.11 in the year-earlier quarter.
Revenue: Decreased 25.82% to $7.39 billion from the year-earlier quarter.
Quoting Management: Chief Executive Officer Sergio P. Ermotti said,”I am very pleased with our performance this quarter. The results show that our strategy is right and we’re ahead on execution. Every quarter since we set the strategy in 2011, we have executed it in a very clear and disciplined way building an unmatched capital position and delivering for our clients.”
Key Stats (on next page)…
Revenue decreased 28.32% from $10.31 billion in the previous quarter. EPS decreased 50% from $0.36 in the previous quarter.
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