Lazard reports 20 pct fall in adjusted profit - Southern Business Review

Breaking

Facebook Follow

Tuesday, February 5, 2019

Lazard reports 20 pct fall in adjusted profit

Feb 5 (Reuters) - Financial adviser Lazard Ltd reported a 20 percent fall in adjusted quarterly profit on Tuesday, as the company’s assets under management dropped following a market selloff due to geopolitical uncertainties.


Adjusted net income fell to $118.9 million, or 94 cents per share, in the fourth quarter ended Dec. 31, from $148.1 million, or $1.12 per share, a year earlier. (reut.rs/2D6ZPMV)


Analysts on average were expecting a profit of 92 cents per share, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable.




Reporting By Aparajita Saxena in Bengaluru; Editing by Sriraj Kalluvila