Julius Baer Misses Consensus Earnings Estimates Despite Strong Results
Wide-moat Julius Baer reported strong first-half results, with net profit growing by 26% compared with first-half 2017. However, record profit of CHF 444 million was 6% shy of consensus expectations, and the counter traded 4% lower in Monday morning trading on the back of the miss. Assets under management grew by 3% compared with the closing balance at Dec. 31, 2017, with virtually all growth coming from net new money flowing into Julius Baer's portfolios, and with market performance detracting ...
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