UPDATE 1-Lazard's profit tops estimates on higher advisory fees

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July 27 (Reuters) - Lazard Ltd reported a higher-than-expected 50 percent jump in quarterly profit on Thursday as it earned more from advising on deals and on strength in its asset management unit.

The company pocketed a market share of 10.7 percent for completed deals among major advisers globally, according to Thomson Reuters data.

"Lazard's record operating revenue underscores the power of our model and the global breadth and depth of our franchise," Chief Executive Kenneth Jacobs said.

Lazard advised on deals such as Johnson & Johnson's $30 billion acquisition of Actelion and Danone's $12.5 billion acquisition of WhiteWave Foods Co.

Operating revenue from Lazard's financial advisory business rose 43 percent to $411 million.

This was in a period when announced mergers and acquisitions had slowed globally on concerns related to Britain's exit from the European Union, and changes in U.S. tax law and trade policy, and general uncertainty in the global economy.

Operating revenue from Lazard's asset management business rose 22.3 percent to $307 million.

Net income attributable to Lazard rose to $120.4 million, or 91 cents per share, in the second quarter ended June 30, from $80.4 million, or 61 cents per share, a year earlier.

On an adjusted basis, the company earned 98 cents per share, handily beating the average analyst estimate of 79 cents, according to Thomson Reuters I/B/E/S.

Total operating revenue rose 33 percent to $720.2 million, while analysts had expected $627.1 million. (Reporting by Sruthi Shankar in Bengaluru; Editing by Martina D'Couto)