UBS reported a quarterly net profit of $1.8bn, exceeding market forecasts and causing its stock to rise by 10%. The Swiss bank attributed its success to increased revenues in its wealth-management business and investment banking, as well as a reduction in the estimated losses from the toxic parts of the business inherited from Credit Suisse. Meanwhile, Disney’s streaming services, Disney+ and Hulu, have seen a significant improvement in operating profit, reporting a combined profit of $47m in the recent quarter compared to a loss of $587m in the same quarter last year. The overall loss from streaming, including ESPN, has also narrowed to just $18m. In an effort to boost business, Disney announced a new streaming bundle in America that will include programming from Warner Bros Discovery. However, the lack of profitability in the streaming division continues to be a concern for investors.
UBS Beat Expectations with Net Profit of $1.8bn while Disney’s Streaming Business Shows Significant Improvement
