Lazard reports Q3 and nine-month 2017 results
NEW YORK, October 26, 2017 – Lazard Ltd (NYSE: LAZ) today reported record third-quarter operating revenue1 of $627 million for the quarter ended September 30, 2017. Net income, as adjusted1 and excluding pre-tax charges2, was $112 million, or $0.85 per share (diluted) for the quarter. Third-quarter 2017 net income on a U.S. GAAP basis was $109 million, or $0.82 per share (diluted).
For the first nine months of 2017, net income, as adjusted1,2, was $352 million, or $2.66 per share (diluted). On a U.S. GAAP basis, net income for the first nine months was $337 million, or $2.55 per share (diluted).
“Record operating revenue for the third quarter and year to date reflects the strength of our franchise, the quality of work for our clients, and the investments we continue to make in the business,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We are building on a strong and stable foundation, with a solid track record of performance through cycles, and we are in an excellent position to capitalize on growth opportunities.”
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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