UPDATE 2-Greenhill profit plunges on lower advisory revenue

* Q2 EPS $0.07 vs $0.69 yr ago

* Q2 rev down 48 pct to 47.3 mln

* Q2 Financial advisory fees fall 47 pct to $45.1 mln

* Shares fall as much as 9 pct after market (Adds M&A industry background, CEO comment)

July 18 (Reuters) - Boutique financial advisory company Greenhill & Co Inc's second-quarter profit fell 90 percent, widely missing Wall Street estimates, as its advisory revenue nearly halved.

Mergers and acquisitions activity fell 25 percent worldwide in the first half of 2012 as global economic uncertainty reined in companies' expansion plans.

Announced deals totaled slightly more than $1 trillion globally through June 19, down from $1.33 trillion over the same period last year, according to preliminary Thomson Reuters data.

"Year to date, we have recognized revenue from more clients than last year, but a continued weak transaction environment has meant that most of these have generated modest retainers rather than more significant transaction related fees," Chief Executive Officer Scott Bok said in a statement.

The company earned $2.2 million, or 7 cents per share, compared with $21.5 million, or 69 cents per share, last year.

Analysts had expected earnings of 25 cents per share, according to Thomson Reuters I/B/E/S.

Total revenue at the firm -- founded by Robert Greenhill, former president of Morgan Stanley and former chairman of Smith Barney -- plunged 48 percent to 47.3 million.

Financial advisory fees, which include merger advisory fees, fell 47 percent to $45.1 million.

Shares of the company fell as much as 9 percent to $34.03 in after-hours trade. (Reporting by Anil D'Silva; Editing by Maju Samuel, Roshni Menon)