ZURICH (AP) — ZURICH (AP) — UBS AG (UBS) on Wednesday reported net income of $1.2 billion in its fourth quarter.

The Zurich-based bank said it had earnings of 37 cents per share.

The bank posted revenue of $13.74 billion in the period. Its revenue net of interest expense was $12.15 billion, surpassing Street forecasts.

For the year, the company reported profit of $7.77 billion, or $2.36 per share. Revenue was reported as $49.57 billion.

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