ZURICH—UBS Group AG on Monday reported a profit for the second
quarter that beat estimates as the Swiss bank released the results
a day early, prompted by a local media report.
Zurich-based UBS, which had been scheduled to report its latest
results Tuesday, said net profit rose to 1.21 billion Swiss francs
($1.26 billion) in the quarter, up from 792 million Swiss francs in
the same period last year.
Analysts had expected the Swiss bank to report a net profit of
878 million francs. Operating income rose to 7.82 billion francs
from 7.15 billion francs, UBS said.
Adjusted net new money at the bank's flagship wealth management
unit was 8.4 billion francs, UBS said.
UBS had been scheduled to release its financial results Tuesday.
However, a Swiss newspaper published a report Sunday, citing
anonymous sources, which included an inaccurate figure for the
bank's profit for the second quarter.
Write to John Letzing at john.letzing@wsj.com
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