July 25, 2019 / 11:03 AM / a month ago

Lazard profit slumps 55%

July 25 (Reuters) - Financial adviser Lazard Ltd reported a 55% fall in second-quarter profit on Thursday, as it earned less in both asset management and advisory fees.

Net income attributable to the company fell to $65.8 million, or 55 cents per share, in the quarter ended June 30, from $147.0 million, or $1.13 per share, a year earlier. (reut.rs/2GtltNL)

On an adjusted basis, the company earned 73 cents per share.

Analysts had expected a profit of 63 cents per share, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable. (Reporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli)

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