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

Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 43 cities across 26 countries in North and South America, Europe, Asia and Australia. Celebrating its 175th year, the firm provides advice on mergers and acquisitions, capital markets and other strategic matters, restructuring and capital solutions, and asset management services to corporations, partnerships, institutions, governments and individuals. For more information on Lazard, please visit Follow Lazard at @Lazard.


Judi Frost Mackey

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Alexandra Deignan

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