Lazard reports Q2 and first-half 2017 results
NEW YORK, July 27, 2017 – Lazard Ltd (NYSE: LAZ) today reported record quarterly operating revenue1 of $720 million for the quarter ended June 30, 2017. Net income, as adjusted1 and excluding pre-tax charges2, was $130 million, or $0.98 (diluted) per share for the quarter. Second quarter 2017 net income on a U.S. GAAP basis was $120 million, or $0.91 per share (diluted).
First-half net income, as adjusted1,2, was $240 million, or $1.81 per share (diluted). On a U.S. GAAP basis, first-half net income was $228 million, or $1.72 per share (diluted).
“Lazard’s record operating revenue underscores the power of our model and the global breadth and depth of our franchise,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We advised business and government leaders on a wide variety of strategic and financial matters around the world. Asset Management achieved a record level of AUM by providing diverse, sophisticated investment solutions for a global, primarily institutional client base.”
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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