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Lazard beats estimates on higher financial advisory revenue
February 7, 2013 / 12:36 PM / 5 years ago

Lazard beats estimates on higher financial advisory revenue

Feb 7 (Reuters) - Lazard Ltd reported quarterly results that beat analysts’ estimates as revenue from financial advisory business rose 19 percent.

The company reported a loss of $5.3 million, or 5 cents per share, compared with a loss of $4.8 million, or 4 cents per share, a year earlier.

Excluding items, the investment bank earned 61 cents per share. Revenue rose 22 percent to $574 million.

Analysts on average were expecting earnings of 33 cents per share, on revenue of $477.2 million, according to Thomson Reuters I/B/E/S. (Reporting by Avik Das in Bangalore; Editing by Supriya Kurane)

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