Stock Analyst Note
UBS Earnings: Credit Suisse Integration on Track, but Capital Uncertainty Weigh on Its Valuation
Narrow-moat UBS reported underlying pretax profits of $2.1 billion for the second quarter of 2024, 26% ahead of the $1.6 billion company-compiled consensus estimate. Revenue for the quarter was slightly ahead of expectations, mainly due to a good quarter for the investment banking business.