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FinanceUBS Q2 profit beats forecasts, announces US$3 billion in new buybacks
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UBS reported a forecast-beating 17% increase in second-quarter net profit, with net profit attributable to shareholders reaching US$2.8 billion. The Swiss bank also announced plans for US$3 billion in new share buybacks by the end of June, following US$3 billion in buybacks completed in July. The strong performance and capital return program signal confidence in the bank's financial health and outlook.
Source report
ZURICH — UBS reported a 17% jump in second-quarter net profit, surpassing analyst expectations, and announced plans for US$3 billion in new share buybacks by the end of June.
The bank's net profit attributable to shareholders came in at US$2.8 billion.
The new share buyback program follows US$3 billion in buybacks that were completed in July.
Key Highlights:
- Quarterly net profit: US$2.8 billion (up 17% year-on-year)
- New buyback program: US$3 billion to be completed by end-June
- Prior buybacks: US$3 billion completed in July
Source
The Business TimesRegional
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UBS Beats Forecasts with Q2 Profit, Announces US$3 Billion in New Buybacks