Credit Suisse Posts Higher Q1 Profit

Credit Suisse Group AG

reported a rise in its first-quarter net profit. Credit Suisse's quarterly net profit surged to CHF1.3 billion, versus CHF44 million, in the year-ago period. Its revenue climbed 19% to around CHF7.2 billion. However, analysts were expecting a net profit of CHF1.2 billion on revenue of CHF7.4 billion. Credit Suisse shares closed at $28.13 yesterday.