(Bloomberg) --UBS plunged the most in three months after first-quarter profit missed analysts’ estimates, hurt by a slump in earnings across wealth-management and trading businesses.
Net income fell 64% to 707 million Swiss francs ($741 million) from a year earlier, the Zurich-based bank said on Tuesday. That missed the 735 million-franc average estimate of five analysts in a Bloomberg survey. At the investment-banking unit, led by Andrea Orcel, profit declined 67% to 253 million francs.
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