Lazard reports full-year and Q4 2016 results
NEW YORK, February 2, 2017 – Lazard Ltd (NYSE: LAZ) today reported net income, as adjusted1, of $410 million for the year ended December 31, 2016. Net income per share, as adjusted1, was $3.09 (diluted), compared to $3.60 per share (diluted) for 20152.
On a U.S. GAAP basis, net income was $388 million for the year ended December 31, 2016, or $2.92 per share (diluted), which included a net charge of $0.17 per share (diluted), compared to $7.40 per share (diluted) for 2015, which included a net benefit of $3.80 per share (diluted) (primarily tax-related)2. Pre-tax income per share (diluted), as adjusted1, was 6% lower than 2015.
Fourth-quarter 2016 net income, as adjusted1, was $150 million, or $1.13 per share (diluted). Fourth-quarter 2016 net income on a U.S. GAAP basis was $128 million, or $0.96 per share
“Record operating revenue in the fourth quarter capped a strong year for Lazard,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We achieved these results in a volatile market environment while investing in the firm to reinforce our competitive advantage and meet the evolving needs of our clients.”
For more information, download the full press release.
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 www.lazard.com. Follow Lazard at @Lazard.
Judi Frost Mackey
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