Shares in UBS jumped after it reported better-than-expected earnings in the first quarter

Shares in UBS jumped after it reported better-than-expected earnings in the first quarter

 Fabrice COFFRINI

Swiss banking giant UBS on Wednesday reported that net profit rose a better-than-expected 80 percent to $3 billion in the first quarter, lifted by its investment banking arm.

Revenue climbed 13 percent from the same period last year to $14.2 billion despite "a volatile and unpredictable geopolitical and market environment", the bank said in a statement.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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