(CNBC) UBS on Tuesday missed expectations for the second quarter of 2022 as its CEO warned of “uncertain times” in markets. On Tuesday it posted a net profit attributable to shareholders of $2.11 billion, below analyst expectations aggregated by the company of $2.4 billion. It marks a 5% rise from the $2 billion reported during the same period last year, when the flagship wealth management business saw a significant windfall from wealthy investors, and follows a strong first-quarter that saw the group post a net profit of $2.136 billion.
UBS misses expectations; CEO cites one of the ‘most challenging’ quarters for investors in a decade
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