Lazard Ltd Reports Second-Quarter and First-Half 2023 Results

Press releases — New York, Corporate

July 27, 2023


NEW YORK, July 27, 2023 – Lazard Ltd (NYSE: LAZ) today reported operating revenue1 of $620 million for the quarter ended June 30, 2023. Net income, as adjusted2 , was $23 million, or $0.24 per share, diluted, for the quarter. On a U.S. GAAP basis, second-quarter 2023 net loss was $124 million, or $1.41 per share, diluted.

First-half 2023 net loss, as adjusted, was $0.3 million. On a U.S. GAAP Basis, first-half 2023 net loss
was $146 million, or $1.68 per share, diluted.

"Lazard’s diversified global business model has proven resilient during the continued challenging market conditions in the second quarter," said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. "Our Asset Management business is well-positioned, and we believe the M&A market is stabilizing and conditions are set for the beginning of a rebound."

For more information, download the full press release.


About Lazard

Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. For more information, please visit www.lazard.com.

MEDIA CONTACT

Judi Frost Mackey

+1 212 632 1428

judi.mackey@lazard.com

INVESTOR CONTACT

Alexandra Deignan

+1 212 632 6886

alexandra.deignan@lazard.com


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