UBI Banca reported on Friday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
UBI Banca announced earnings per share of €0.08 on revenue of €1.19B. Analysts polled by anticipated EPS of €0.04 on revenue of €842.84M. That with comparison to EPS of €0.08 on revenue of €920.62M in the same period a year before. UBI Banca had reported EPS of €0.1 on revenue of €948.5M in the previous quarter. Analysts are expecting EPS of €-0.03 and revenue of €856.9M in the upcoming quarter.
UBI Banca shares are down 12% from the beginning of the year , still down 43.41% from its 52 week high of €4.51 set on February 18. They are outperforming the FTSE MIB which is down 26.13% year to date.
UBI Banca follows other major Financial sector earnings this month
UBI Banca's report follows an earnings missed by Intesa Sanpaolo on Monday, who reported EPS of €0.05 on revenue of €4.88B, compared to forecasts EPS of €0.06 on revenue of €4.17B.
UniCredit had missed expectations on Wednesday with first quarter EPS of €0.03 on revenue of €4.38B, compared to forecast for EPS of €0.41 on revenue of €4.39B.
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