UBS Group AG · UBS · FY2025 Q1 · Calendar Q2 2025

UBS reports resilient wealth flows as integration and capital constraints persist

The call analysis points to resilience in wealth management and continued integration savings, supporting the operating story. The evidence is balanced by uncertainty around regulation, leverage, tariffs and rates; the supplied record does not provide verified actual-versus-consensus results or prior-quarter analysis.

Reported Before market openNYSEFinancial Services $148.43B market cap
70quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $0.42
EPS surprise — Reported versus consensus
Reported revenue — Consensus $10.16B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -0.9% Event window
SPY move +0.0% Same window
Abnormal move -1.0% Stock minus SPY
Volume 1.1× Versus trailing sessions
Subsequent drift +4.7% Up to 20 sessions
UBSSPY benchmark

Ask FN2 about UBS FY2025 Q1

Transcript, numbers and history already loaded
What drove UBS's -0.9% move after FY2025 Q1 earnings?What changed in UBS's guidance and outlook in FY2025 Q1?Give me the bull and bear case for UBS after FY2025 Q1 earnings.

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Transcript intelligence

What changed

Management described continued Credit Suisse integration progress, including Swiss-client migration and technology savings, alongside strong wealth-management net new assets. Management maintained its guidance sentiment; concerns around capital constraints and external uncertainty remain.

Guidance delta

Guidance sentiment was maintained. The supplied analysis does not specify a quantified guidance change.

Key takeaways

  • The transcript analysis describes Q1 net profit and return on CET1 as resilient despite market volatility.
  • Wealth Management attracted substantial net new assets, with the Americas and APAC identified as contributors.
  • Credit Suisse integration is progressing through cost savings and data migration, while leverage remains a constraint.
  • The analysis identifies tariffs, regulatory change and lower rates as material uncertainties.

Management priorities

  • Continue Swiss client migration and Credit Suisse integration.
  • Deliver remaining technology cost savings and decommission legacy systems.
  • Expand wealth management in APAC and deploy generative AI across advisory and investment platforms.

Follow UBS with an agent that reads every filing, transcript, and price print. Free to start.

Try FN2 free

Earnings History

Estimate Beat Miss Match
UBS REVENUE earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 actual $10B, None Q1 '24 estimate $11B Q1 '24 actual $12B, beat Q2 '24 estimate $11B Q2 '24 actual $22B, beat Q3 '24 estimate $11B Q3 '24 actual $11B, beat Q2 '25 estimate $10B Q2 '25 actual $18B, beat Q3 '25 estimate $12B Q3 '25 actual $12B, beat Q4 '25 estimate $12B Q4 '25 actual $12B, beat Q1 '26 estimate $13B Q1 '26 actual $14B, beat Q2 '26 estimate $13B Q2 '26 actual $13B, miss Q3 '26 estimate $13B Q3 '26 actual $13B, beat Q4 '26 estimate $13B Q1 '27 estimate $15B Q2 '27 estimate $14B Q3 '27 estimate $23B
Show less

Analyst Consensus ?

ConsensusHold29 ratings
Bullish1655.2%
Neutral724.1%
Bearish620.7%

Analyst 52W Price Targets

$48.48Previous close
$19.24Low
$23.57Average
$34High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Barclays Equal Weight UnderweightUpgradeApr 20, 2026
B of A Securities Buy NeutralUpgradeDec 16, 2025
Jefferies Buy HoldUpgradeJun 3, 2025
Exane BNP Paribas Outperform NeutralUpgradeJan 3, 2025
Citigroup Neutral BuyDowngradeApr 23, 2024
Show 24 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $48.48. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Bank of America SecuritiesAntonio Reale$34$30.3 -29.9%Sep 19, 2024
Deutsche BankBenjamin Goy$24.59$20.37 -49.3%Feb 3, 2022
Berenberg BankEoin Mullany$23.52$20.53 -51.5%Feb 2, 2022
BarclaysAmit Goel$21.38$20.4 -55.9%Feb 1, 2022
Morgan StanleyMagdalena Stoklosa$22.45$17.15 -53.7%Nov 29, 2021
See 2 more

Track every rating change on UBS the moment it posts. Free to start.

Start free

Company context

Snapshot as of publication

UBS Group AG, a financial services giant headquartered in Zurich, Switzerland, since its founding in 1862 (and known as UBS AG until its name change in December 2014), delivers a comprehensive range of financial advice and solutions to a global clientele of private individuals, institutions, and corporations. The firm structures its operations across four primary business segments: The Global Wealth Management division caters specifically to affluent and ultra-high-net-worth clients. It provides sophisticated investment guidance, various lending products, including mortgages and securities-based loans, and extensive planning services encompassing estate and wealth management, philanthropy, corporate and banking services, and family advisory. Through its Personal & Corporate Banking arm, UBS supports individual clients with essential banking services like deposits, cards, and digital platforms, alongside financing, investment opportunities, and retirement solutions.…

Historical context

All UBS earnings
-0.2%FY2026 Q3 · Calendar Q4 2026-0.4%FY2026 Q2 · Calendar Q3 2026-5.9%FY2025 Q4 · Calendar Q1 2026

Financial Services peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
CBOE Cboe Global Markets, Inc. FY2026 Q3 · Calendar Q4 2026 +5.8% +6.8% Cboe posts strong Q3 as options growth and new products advance
NWG NatWest Group plc FY2026 Q3 · Calendar Q4 2026 +2.0% -9.0% NatWest maintains guidance as Q3 growth and capital remain strong
ERIE Erie Indemnity Company FY2026 Q3 · Calendar Q4 2026 +2.1% +5.3% Erie pairs resilient demand initiatives with thin underwriting margins

Latest beats and misses

Who reports next

Beat on EPS

Missed on EPS

Get the UBS recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-04-16T00:02:45.914612+00:00
  3. Polygon adjusted daily market bars · 2026-11-03T12:20:46.832266+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T12:20:46.829337+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.