Lazard adj profit doubles as global M&A volumes soar

Thu May 1, 2014 7:07am EDT

May 1 (Reuters) - Investment bank and asset manager Lazard Ltd reported a 119 percent rise in first-quarter profit as merger advisory revenue rose in a thriving M&A market.

Lazard's profit rose to $81 million, or 61 cents per share, on an adjusted basis in the three months ended March 31, from $37 million, or 28 cents per share, a year earlier. (Reporting by Tanya Agrawal in Bangalore; Editing by Joyjeet Das)