logo
Plus   Neg
Share
Email

UBS Q1 Profit Down

UBS (UBS) reported that its net profit attributable to shareholders for the first-quarter was $1.14 billion, down 27% from last year.

Reported profit before tax declined 26% year over year to $1.55 billion and adjusted profit before tax decreased 21% to $1.58 billion from the previous year.

Net interest income for the quarter was $1.12 billion, down from $1.44 billion in the prior year. Net fee and commission income also decreased to $4.13 billion from $4.74 billion in the prior year.

The company said that the overall pace of growth decreased as a result of a synchronized global slowdown. Economic growth and markets are expected to continue to recover and stabilize at different speeds across regions and asset classes.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Online-video streaming giant Netflix Inc. (NFLX), Tuesday reported a fourth-quarter profit that trounced Wall Street estimates, as revenues surged 31% driven by strong subscriber growth. Netflix added 8.76 million subscribers globally in the quarter, above its forecast of 7.60 million, to end the... Fast food chain Krystal Company has filed for bankruptcy, according to reports. The Atlanta-based Krystal filed for Chapter 11 on Sunday in the U.S. Bankruptcy Court in Atlanta. In the filing, the company reportedly disclosed assets between $10 million and $50 million, and liabilities between $50 million and $100 million. The chief executive officer of Google's parent company Alphabet called for artificial intelligence or AI to be regulated, noting that there are real concerns about the potential negative consequences of the technology. According to Alphabet CEO Sundar Pichai, there are real concerns about the negative consequences of AI, from deepfakes to nefarious uses of facial recognition.
Follow RTT
>