Lazard Turns To Profit In Q4, Results Top Estimates - Quick Facts

(RTTNews) - Financial advisory and asset management firm Lazard Ltd. (LAZ) Wednesday reported fourth-quarter net income attributable to the company of $53.22 million or $0.40 per share, compared to a loss of $5.37 million or $0.05 per share in the prior year.

On an adjusted basis, earnings were $0.81 per share, while the company posted $0.61 per share last year.

On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.58 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue climbed 9 percent to $612.69 million from $560.69 million a year earlier. Analysts estimated revenues of $545.96 million for the quarter.

Assets under management totaled $187 billion as of December 31, 2013, up 12% from December 31, 2012, and up 6% from September 30, 2013.