Lazard reports Q3 and nine-month 2019 results
NEW YORK, October 31, 2019 – Lazard Ltd (NYSE: LAZ) today reported third-quarter operating revenue1 of $588 million for the quarter ended September 30, 2019. Net income, as adjusted2, was $88 million, or $0.76 per share (diluted) for the quarter. Third-quarter 2019 net income on a U.S. GAAP basis was $47 million, or $0.40 per share (diluted).
For the first nine months of 2019, net income, as adjusted, was $280 million, or $2.37 per share (diluted). On a U.S. GAAP basis, net income for the first nine months was $210 million, or $1.77 per share (diluted).
“We see increased activity in our Financial Advisory business, and continue to provide clients with a diverse range of innovative investment solutions that position our Asset Management business well for the future,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We are managing the firm with cost discipline while investing in our businesses to serve clients, recruit and develop the best people, and build shareholder value.”
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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