Lazard Reports Fourth-Quarter And Full-Year 2023 Results
NEW YORK, February 1, 2024 – Lazard, Inc. (NYSE: LAZ) today reported net revenue of $806 million and operating revenue1 of $761 million for the quarter ended December 31, 2023. On a U.S. GAAP basis, fourth-quarter 2023 net income was $64 million or $0.65 per share, diluted. Net income, as adjusted2 was $65 million, or $0.66 per share, diluted, for the quarter.
Annual net revenue was $2,515 million and operating revenue was $2,440 million for the year ended December 31, 2023. On a U.S. GAAP basis, net loss for the year was $75 million, or $0.90 per share, diluted. Net income, as adjusted2, was $75 million, or $0.77 per share, diluted, for the year.
“Lazard’s fourth quarter results represent a strong finish to a challenging year, and we are pleased with our forward momentum as we execute our long-term growth strategy,” said Peter R. Orszag, Chief Executive Officer, Lazard. “We are increasingly winning new client mandates across our business, and we are well positioned to serve clients as they consider economic opportunities and geopolitical risks in the years ahead.”
For more information, download the full press release.
About Lazard
Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. For more information, please visit www.lazard.com.
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