Lazard reports Q2 and first half 2020 result
NEW YORK, July 31, 2020 – Lazard Ltd (NYSE: LAZ) today reported operating revenue1 of $543 million for the quarter ended June 30, 2020. Net income, as adjusted2, was $75 million, or $0.67 per share (diluted) for the quarter. On a U.S. GAAP basis, second-quarter 2020 net income was $73 million, or $0.66 per share (diluted).
First-half 2020 net income, as adjusted, was $142 million, or $1.25 per share (diluted). On a U.S. GAAP basis, first-half 2020 net income was $137 million, or $1.22 per share (diluted).
“Lazard continues to perform well in a period of unprecedented uncertainty, reflecting the strength and resilience of our business model and the dedication of our people,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “Our broad array of Financial Advisory services, including our preeminent Restructuring franchise, mitigates the impact of a slowdown in global M&A markets. In Asset Management, the diversification of our investment platforms and global client base continue to be a solid foundation for long-term growth.”
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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