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UniCredit Q2 Profit Climbs; Backs FY19 Profit View, Cuts Revenue Outlook

Italian lender UniCredit SpA (UCG,UNCFF.PK) reported Wednesday that its second-quarter net profit climbed 81 percent to 1.85 billion euros from last year's 1.02 billion euros.

Adjusted net profit was 1.03 billion euros, compared to 1.02 billion euros last year.

Total revenues declined 4.6 percent to 4.52 billion euros from 4.74 billion euros a year ago.

Group core revenues declined 4.1 percent from the previous year.

Looking ahead for fiscal 2019, the company continues to expect an adjusted net profit of 4.7 billion euros.

Further, the company lowered its revenue guidance to 18.7 billion euros from previously expected 19.0 billion euros.

The full year cost target confirmed at 10.1 billion euros.

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