UBS Q2 Earnings Beats: Wealth Management Shines, Cost Savings Accelerate & More
Portfolio Pulse from Lekha Gupta
UBS Group AG reported strong Q2 FY24 earnings, with sales up 25% Y/Y to $11.9 billion, beating expectations. The Global Wealth Management division saw significant growth, and the company achieved substantial cost savings. UBS shares are trading higher, and investors can gain exposure through ETFs like AVDE and AVSD.
August 14, 2024 | 9:51 am
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POSITIVE IMPACT
Investors can gain exposure to UBS's strong performance through the Avantis International Equity ETF (AVDE), which includes UBS in its portfolio.
AVDE includes UBS in its portfolio, and UBS's strong performance is likely to positively impact AVDE's value.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to UBS's strong performance through the American Century ETF Trust Avantis Responsible International Equity ETF (AVSD), which includes UBS in its portfolio.
AVSD includes UBS in its portfolio, and UBS's strong performance is likely to positively impact AVSD's value.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
UBS Group AG reported strong Q2 FY24 earnings, with sales up 25% Y/Y to $11.9 billion, beating expectations. The Global Wealth Management division saw significant growth, and the company achieved substantial cost savings. Shares are trading higher.
The strong earnings report, significant growth in the Global Wealth Management division, and substantial cost savings are positive indicators for UBS's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100