UBS Expects A $1B Pre-Tax Loss In Its Non-Core And Legacy Units For The Second Half Of 2024, With Revenues Showing Modest Short-Term Gains
Portfolio Pulse from Benzinga Newsdesk
UBS expects a $1 billion pre-tax loss in its Non-Core and Legacy units for the second half of 2024, despite modest short-term revenue gains. The effective tax rate is anticipated to be around 35%.
August 14, 2024 | 6:36 am
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UBS anticipates a $1 billion pre-tax loss in its Non-Core and Legacy units for the second half of 2024, despite modest short-term revenue gains. The effective tax rate is expected to be around 35%.
The anticipated $1 billion pre-tax loss in Non-Core and Legacy units is a significant negative factor, despite modest revenue gains. This will likely impact investor sentiment negatively in the short term.
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