February 1, 2018 / 12:09 PM / 6 months ago

Lazard swings to loss on one-time tax charge

Feb 1 (Reuters) - Financial adviser Lazard Ltd reported its first quarterly loss in five years on Thursday, hurt in part by a one-time charge of $420 million related to the new U.S. tax laws.

Net loss attributable to the company was $83.6 million, or 70 cents per share, in the fourth quarter ended Dec. 31, from a profit of $128 million, or 96 cents per share, a year earlier. reut.rs/2nxaFnK

Provision for income taxes rose to $441.5 million for the fourth quarter from $27.9 million a year ago.

Excluding items, it earned $148.1 million or $1.12 per share.

Total revenue fell to $692.3 million from $705.8 million. (Reporting By Aparajita Saxena in Bengaluru)

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