Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
Investing.com -- Lazard Ltd . (NYSE:LAZ) reported first-quarter results on Friday that fell short of analyst expectations, as the financial advisory and asset management firm grappled with an uncertain business climate.
The company posted adjusted earnings per share of $0.56 for the quarter ended March 31, 2025, missing the analyst consensus of $0.60.
Revenue came in at $648 million, below the $707.15 million estimate and down 19% YoY.
Lazard’s Financial Advisory segment saw net revenue decline 19% YoY to $367 million, while Asset Management revenue dipped 2% to $288 million. The company cited an "uncertain business environment" as impacting results.
"First quarter performance was solid in the midst of an uncertain business environment," said Peter R. Orszag, CEO and Chairman of Lazard. "Throughout our history, we’ve maintained an unwavering focus on serving our clients, leveraging Lazard’s unparalleled global reach and deep expertise at the intersection of business and geopolitics."
The company’s average assets under management fell 7% YoY to $231 billion in Q1. As of March 31, AUM stood at $227 billion, flat sequentially but down 9% from a year earlier.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.