UBS Q1 2024 earnings

The UBS logo in an office building in Krakow, Poland on February 22, 2024.

Jakub Purzycki | norphoto | Getty Images

UBS on Tuesday reported a return to profitability after two quarterly losses as it smashed first-quarter expectations, with results boosted by higher wealth management revenue.

Shares were up 8.9% at 8:48 a.m. London time, recouping some of April’s losses. UBS shares rose 51.7% last year, but it’s been a lackluster start to 2024.

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