A «Financial Times» article mistakenly reported that UBS failed to beat analyst projections which resulted in spirited retaliation from the bank’s corporate Twitter account, shaming the relevant journalist by name.
Financial Times' Stephen Morris was called out after incorrectly reporting that the Swiss financial giant UBS had failed to beat analyst estimates from its investment banking arm. UBS’ net profit for the second quarter was up 1 percent at $1.39 billion, with effective cost-cutting offsetting lower revenues.
The FT subsequently corrected the article and underlined the error regarding UBS’ investment banking results but this did not subdue the bank’s dissatisfaction and it took matters to social media.
Embarrassing reporting from @sjhmorris at the FT. First he reports the wrong consensus number for the IB. Upon realizing the significant consensus beat, seeing positive reactions from analysts & strong comparison to US peers, his basic story.... doesn't change. Agenda journalism?
— UBS (@UBS) July 23, 2019
All parties involved reportedly did not comment on the matter.
