* Q3 adj profit $0.22/shr vs est $0.23/shr
* Q3 revenue falls 3 pct to $93.2 mln
* Financial advisory revenue falls 11 pct
Nov 3 (Reuters) - Financial advisory and investment banking firm Duff & Phelps Corp posted a third-quarter adjusted profit that missed market estimates by a cent, hurt by a drop in financial advisory revenue.
The company posted a net profit attributable to shareholders of $3.4 million, or 14 cents a share, compared with $153,000, or 1 cent a share, a year earlier
On an adjusted pro forma basis, the company earned 22 cents a share.
Analysts on average had expected earnings of 23 cents a share, on revenue of $94.6 million, according to Thomson Reuters I/B/E/S.
Revenue, excluding reimbursable expenses, fell more than 3 percent to $93.2 million. Financial advisory revenue fell 11 percent to $57.6 million.
The company said it was beginning to see early positive signs to support an increase in transactional activity.
Shares of the New York-based company closed at $17.51 Tuesday on the New York Stock Exchange.
(Reporting by Jochelle Mendonca in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: DUFFANDPHELPS/ (jochelle.mendonca@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: jochelle.mendonca.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q3 revenue falls 3 pct to $93.2 mln
* Financial advisory revenue falls 11 pct
Nov 3 (Reuters) - Financial advisory and investment banking firm Duff & Phelps Corp posted a third-quarter adjusted profit that missed market estimates by a cent, hurt by a drop in financial advisory revenue.
The company posted a net profit attributable to shareholders of $3.4 million, or 14 cents a share, compared with $153,000, or 1 cent a share, a year earlier
On an adjusted pro forma basis, the company earned 22 cents a share.
Analysts on average had expected earnings of 23 cents a share, on revenue of $94.6 million, according to Thomson Reuters I/B/E/S.
Revenue, excluding reimbursable expenses, fell more than 3 percent to $93.2 million. Financial advisory revenue fell 11 percent to $57.6 million.
The company said it was beginning to see early positive signs to support an increase in transactional activity.
Shares of the New York-based company closed at $17.51 Tuesday on the New York Stock Exchange.
(Reporting by Jochelle Mendonca in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: DUFFANDPHELPS/ (jochelle.mendonca@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: jochelle.mendonca.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
