Lazard Q3 Profit Climbs, Results Top Estimates

(RTTNews) - Financial advisory and asset management firm Lazard Ltd. (LAZ) reported a surge in third-quarter profit, on 12% growth in revenues.

Net income attributable to the company increased to $60.28 million or $0.45 per share from $33.30 million or $0.26 per share in the previous year.

Adjusted earnings for the recent quarter totaled $0.46 per share.

On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter grew 12% to $480.35 million, while analysts estimated $453.26 million.