Lazard Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Lazard Inc. (LAZ) released earnings for third quarter that Decreased from last year but beat the Street estimates.

The company's bottom line came in at $71 million, or $0.65 per share. This compares with $108 million, or $1.02 per share, last year.

Excluding items, Lazard Inc. reported adjusted earnings of $62 million or $0.56 per share for the period.

Analysts on average had expected the company to earn $0.44 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 4.7% to $748 million from $785 million last year.

Lazard Inc. earnings at a glance (GAAP) :

-Earnings: $71 Mln. vs. $108 Mln. last year. -EPS: $0.65 vs. $1.02 last year. -Revenue: $748 Mln vs. $785 Mln last year.