Why Swiss Banking Giant UBS' Shares Are Rising Today
Portfolio Pulse from Lekha Gupta
UBS Group AG reported Q3 FY23 results with sales jumping 42% Y/Y to $11.695 billion, beating the consensus of $11.037 billion. The company reported an EPS loss of $(0.24) vs. consensus of $0.17. The bank reported net new money of $22 billion in Global Wealth Management business and had net new deposits of $33 billion across GWM and Personal and Corporate Banking (P&C), including $22 billion from Credit Suisse clients. UBS shares are trading higher by around 2%.
November 07, 2023 | 1:12 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
UBS reported strong Q3 FY23 results with sales beating consensus and significant net new money in its Global Wealth Management business. This positive news has led to a 2% increase in UBS shares.
UBS reported strong Q3 FY23 results, with sales beating consensus estimates and significant net new money in its Global Wealth Management business. This positive news has likely contributed to the 2% increase in UBS shares. Given the size and influence of UBS, these results are highly relevant and important for investors. The confidence in this analysis is high as it is based directly on the reported financial results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100