Swiss giant UBS on Wednesday beat bottom line expectations as the lender seeks to rein in steep share declines that have cost it the crown of continental Europe's largest bank amid sweeping U.S. tariffs.

Net profit attributable to shareholders hit $1.692 billion in the first quarter, compared with a mean forecast of $1.359 billion in a LSEG poll of analysts. Group revenue over the stretch stood at $12.557 billion, versus analyst expectations of $12.99 billion.