Lazard reports Q1 2020 results

NEW YORK, April 30, 2020 – Lazard Ltd (NYSE: LAZ) today reported operating revenue1 of $563 million for the quarter ended March 31, 2020. Net income, as adjusted2, was $67 million, or $0.58 per share (diluted) for the quarter.

First-quarter 2020 net income on a U.S. GAAP basis was $64 million, or $0.56 per share (diluted).

“Lazard’s first priority during the global COVID-19 pandemic has been the health and safety of our employees, and we are focused on serving clients with all the resources of our global platform,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We seamlessly transitioned to a remote work environment, thanks to our investments in technology and the dedication of our global teams, who are helping clients navigate tremendous challenges caused by the pandemic and its economic impact. With Lazard’s solid financial footing, our deep relationships with clients, and unrivaled expertise in strategic advisory, restructuring and asset management solutions, we fully expect to emerge from this period in a position of strength.”

For more information, download the full press release.