By John Letzing
ZURICH--UBS Group AG on Monday reported a profit for the second
quarter that was ahead of 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 CHF792 million in the same
period last year.
Analysts had expected the Swiss bank to report a net profit of
CHF878 million. Operating income rose to CHF7.82 billion from
CHF7.15 billion, UBS said.
Adjusted net new money at the bank's flagship wealth management
unit was CHF8.4 billion, 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