Quantcast

UBS Reports Unexpectedly High Profits

Get the WebProNews Newsletter:


[ Business]

UBS reported that its fourth-quarter profit went up 12% to 2.02 billion Swiss francs (US$1.79 billion).

The higher profits were a product of higher revenue from equity trading as well as income from fees on securities managed for clients.

“We have a positive outlook for ’05,” said CFO Clive Standish.

“The market already expected a strong set of UBS numbers but UBS achieved (a result) to top even the high expectations,” said Julius Baer analysts.

“We’ve set a high bar for ’05. Whether we can exceed will also depend on the development of world markets,” said UBS CEO Peter Wuffli.

UBS shares have went up almost 5% this year.

WebProNews | Breaking eBusiness News
Your source for investigative ebusiness reporting and breaking news.

UBS Reports Unexpectedly High Profits
Comments Off on UBS Reports Unexpectedly High Profits
Top Rated White Papers and Resources

Comments are closed.

  • Join for Access to Our Exclusive Web Tools
  • Sidebar Top
  • Sidebar Middle
  • Sign Up For The Free Newsletter
  • Sidebar Bottom