Lazard profit rises despite broad slowdown

NEW YORK, July 30 (Reuters) - Investment bank Lazard Ltd (LAZ.N) said on Wednesday quarterly profit rose on higher advisory and asset management fees, beating expectations, despite a broad slowdown in worldwide deal activity.

The company said second-quarter net income on a fully exchanged basis rose to $64.6 million, or 54 cents a share, from $61.5 million, or 53 cents a share, in the year-ago period. Operating revenue rose 12 percent to a record $494 million.

Analysts on average had expected Lazard to earn 51 cents a share on revenue of $463 million, according to Reuters Estimates. (Reporting by Joseph A. Giannone; Editing by Steve Orlofsky)