Lazard reports Q3 and nine-month 2019 results
NEW YORK, October 31, 2019 – Lazard Ltd (NYSE: LAZ) today reported third-quarter operating revenue1 of $588 million for the quarter ended September 30, 2019. Net income, as adjusted2, was $88 million, or $0.76 per share (diluted) for the quarter. Third-quarter 2019 net income on a U.S. GAAP basis was $47 million, or $0.40 per share (diluted).
For the first nine months of 2019, net income, as adjusted, was $280 million, or $2.37 per share (diluted). On a U.S. GAAP basis, net income for the first nine months was $210 million, or $1.77 per share (diluted).
“We see increased activity in our Financial Advisory business, and continue to provide clients with a diverse range of innovative investment solutions that position our Asset Management business well for the future,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We are managing the firm with cost discipline while investing in our businesses to serve clients, recruit and develop the best people, and build shareholder value.”
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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