Lazard Reports Third-Quarter And Nine-Month 2024 Results

NEW YORK, October 31, 2024 – Lazard, Inc. (NYSE: LAZ) today reported net revenue of $785 million and adjusted net revenue¹ of $646 million for the quarter ended September 30, 2024. For the first nine months of 2024, Lazard reported net revenue of $2,235 million and adjusted net revenue¹ of $2,077 million.

On a U.S. GAAP basis, Lazard reported third-quarter 2024 net income of $108 million or $1.02 per share, diluted. For the first nine months of 2024, net income was $194 million or $1.88 per share, diluted. For the third quarter of 2024, adjusted net income¹ was $40 million or $0.38 per share, diluted. For the first nine months of 2024, adjusted net income¹ was $159 million or $1.54 per share, diluted.

“Lazard’s growth strategy continues to gain momentum, with Financial Advisory revenue up 39 percent forthe first nine months of this year, 16 new Managing Directors hired year-to-date and our work with private capital expanding,” said Peter R. Orszag, Chief Executive Officer, Lazard. “Asset Management delivered another solid quarter, providing a durable source of revenue for the firm, with assets under management increasing more than 8 percent from a year ago. Lazard’s unique insights into business and geopolitical issues continue to position us well to serve clients and deliver long-term shareholder value.”

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