Lazard second-quarter profit rises 94%
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FILE PHOTO: The logo and trading information for Lazard Ltd appear on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid/File Photo
(Reuters) - Lazard Ltd reported an over 94% rise in second-quarter profit on Friday as the investment bank's advisory business benefited from record dealmaking activity in capital markets.
Net income, on an adjusted basis, rose to $146 million, or $1.28 per share, for the quarter ended June 30, from $75 million, or 67 cents per share a year earlier.
Analysts on average were expecting a profit of 89 cents per share, according to IBES data from Refinitiv.
Operating revenue rose 51% to $821 million.
(Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)
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