Lazard reports 20 percent fall in adjusted profit

(Reuters) – Financial adviser Lazard Ltd reported a 20 percent fall in adjusted quarterly profit on Tuesday, as the company’s assets under management dropped following a market selloff due to geopolitical uncertainties.

Adjusted net income fell to $118.9 million, or 94 cents per share, in the fourth quarter ended Dec. 31, from $148.1 million, or $1.12 per share, a year earlier. (

Analysts on average were expecting a profit of 92 cents per share, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable.

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