UBS POSTS FOURTH-QUARTER PROFIT BEAT AND ANNOUNCES $3 BILLION BUYBACK

UBS POSTS FOURTH-QUARTER PROFIT BEAT AND ANNOUNCES $3 BILLION BUYBACK
UBS reports a fourth-quarter net profit of $770 million, beating the $483 million estimate.
The bank’s revenue for the quarter was $11.635 billion, slightly missing analyst expectations of $11.64 billion.
UBS launches a share buyback program of up to $3 billion for 2025.
Investment banking gains contributed to the profit increase.
The reported profit was also lower than the $886.4 million mean forecast from analysts.