UBS Group AG (SIX:UBSG), headquartered in Zurich, reported a net loss of $785 million in the third quarter of this year, corresponding to a loss of 24 cents per share. This figure contrasts sharply with the profit of $1.73 billion posted in the same period last year.
Despite the reported loss, the bank's total revenues saw a significant boost, rising by 42% to reach $11.70 billion, up from last year's figure of $8.24 billion. The bank's Q3 revenue was reported at $19.72 billion and its net interest income increased to $2.11 billion from last year's figure of $1.60 billion.
The bank's pre-tax losses reached $255 million, largely driven by integration costs. This is a stark contrast to last year's pre-tax profit of $2.32 billion. The underlying profit before tax was noted as $844 million, marking a decrease from last year's figure of $2.04 billion. Underlying revenues were reported at $10.74 billion.
InvestingPro Insights
UBS Group AG, a prominent player in the Capital Markets industry, has been actively buying back shares and is trading at a low earnings multiple, according to InvestingPro Tips. Despite the recent decline in revenue, the company has maintained its dividend payments for 12 consecutive years, offering high returns on book equity to its stockholders.
InvestingPro's real-time data highlights that UBS Group AG has a market capitalization of $81.35 billion and a low P/E ratio of 2.36 as of Q2 2023. Over the last twelve months, the company has generated revenue of $33.65 billion, despite a decrease of 7.07%. The company also offers a dividend yield of 2.27%, indicating a stable income stream for investors.
With over 100 additional InvestingPro Tips available for UBS Group AG, investors can gain a comprehensive understanding of the company's financial health and potential growth. These insights can be instrumental in making informed investment decisions.
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