UBS rose more than 7.5% before the opening, Q1 net profit surged by more than 70% year-on-year, reiterated capital return target

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Gelonghui, May 7 | UBS (UBS.US) U.S. stocks rose more than 7.5% before the market opened, at $29.68

Gelonghui, May 7 | UBS (UBS.US) U.S. stocks rose more than 7.5% before the market opened, closing at $29.68.
UBS\’s first quarter revenue was US$12.74 billion, a year-on-year increase of 46%. Net profit was US$1.76 billion, a year-on-year increase of 71%, far exceeding the expected US$598 million.
Among them, net interest income was US$1.94 billion, a year-on-year increase of 40%.
UBS expects to complete its legal merger with Credit Suisse by May 31.
UBS also said its current financial position will allow it to execute on its 2024 capital return target, including plans to repurchase up to $1 billion in shares this year and increase last year\’s dividend of $0.70 per share by 10% in 2024. about.

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