UBS AG (NYSE: UBS) reported Q2 EPS of $8.99, $8.46 better than the analyst estimate of $0.53. Revenue for the quarter came in at $9.54 billion versus the consensus estimate of $8.63 billion.

OUTLOOK

"The effects of central bank tightening may also have an impact on market liquidity. Ongoing geopolitical tensions and the Russia–Ukraine war continue to add uncertainty to the macroeconomic outlook. Against this backdrop, we are still expecting clients to continue to diversify cash holdings by investing their deposits into higher-yielding products, although at a slower pace.

While major developments in the macroeconomic and geopolitical picture would impact our business in the short term, we currently see a pick-up in both client sentiment and transactional momentum among our Wealth Management clients."

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