Lazard reports Q2 and first-half 2018 results
NEW YORK, July 26, 2018 – Lazard Ltd (NYSE: LAZ) today reported record quarterly operating revenue1 of $741 million for the quarter ended June 30, 2018. Net income, as adjusted1 and excluding a pre-tax benefit2, was $143 million, or $1.10 (diluted) per share for the quarter.
Second quarter 2018 net income on a U.S. GAAP basis was $147 million, or $1.13 per share (diluted).
First-half net income as adjusted1 and excluding a pre-tax charge2, was $309 million, or $2.35 per share (diluted). On a U.S. GAAP basis, first-half net income was $307 million, or $2.34 per share (diluted).
“Record operating revenue for the second quarter and first half underscores the differentiated strength of Lazard’s franchise,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “Our global platform incorporates diverse revenue streams of significant scale, innovative client solutions that drive performance, and growth opportunities in which we continue to invest.”
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.
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