Lazard reports Q2 and first-half 2018 results
NEW YORK, July 26, 2018 – Lazard Ltd (NYSE: LAZ) today reported record quarterly operating revenue1 of $741 million for the quarter ended June 30, 2018. Net income, as adjusted1 and excluding a pre-tax benefit2, was $143 million, or $1.10 (diluted) per share for the quarter.
Second quarter 2018 net income on a U.S. GAAP basis was $147 million, or $1.13 per share (diluted).
First-half net income as adjusted1 and excluding a pre-tax charge2, was $309 million, or $2.35 per share (diluted). On a U.S. GAAP basis, first-half net income was $307 million, or $2.34 per share (diluted).
“Record operating revenue for the second quarter and first half underscores the differentiated strength of Lazard’s franchise,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “Our global platform incorporates diverse revenue streams of significant scale, innovative client solutions that drive performance, and growth opportunities in which we continue to invest.”
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 www.lazard.com. Follow Lazard at @Lazard.
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