Lazard reports Q2 and first-half 2019 results
NEW YORK, July 25, 2019 – Lazard Ltd (NYSE: LAZ) today reported operating revenue1 of $630 million for the quarter ended June 30, 2019. Net income, as adjusted2, was $86 million, or $0.73 per share (diluted) for the quarter. On a U.S. GAAP basis, second-quarter 2019 net income was $66 million, or $0.55 per share (diluted).
First-half 2019 net income, as adjusted, was $191 million, or $1.61 per share (diluted). On a U.S. GAAP basis, first-half net income was $163 million, or $1.36 per share (diluted).
“With growing momentum in Financial Advisory and increased average assets under management, we are well positioned for the second half of the year,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We are making significant investments in our technology infrastructure to create new and differentiated capabilities and insights for our clients, building a foundation for enhanced growth.”
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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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