UBS Profit Beats Estimates on Investment Bank Rebound
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UBS AG, Switzerland’s biggest bank, reported a third consecutive quarterly profit, beating analysts’ estimates on higher-than-expected trading revenue.
UBS gained the most in 15 months in Zurich trading after reporting net income of 2.01 billion Swiss francs ($1.91 billion), following a net loss of 1.4 billion francs a year earlier. That beat the 1.12 billion-franc median estimate of 11 analysts surveyed by Bloomberg News.