Lazard second-quarter profit rises 94%
7:00 am Friday, July 30th, 2021
(Reuters) – Lazard Ltd reported an over 94% rise in second-quarter profit on Friday as the investment bank’s advisory business benefited from record dealmaking activity in capital markets.
Net income, on an adjusted basis, rose to $146 million, or $1.28 per share, for the quarter ended June 30, from $75 million, or 67 cents per share a year earlier.
Analysts on average were expecting a profit of 89 cents per share, according to IBES data from Refinitiv.
Operating revenue rose 51% to $821 million.
(Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)
