Lazard Ltd. (LAZ) Tops Q3 EPS by 3c

Lazard Ltd. (NYSE: LAZ) reported Q3 EPS of $0.67, $0.03 better than the analyst estimate of $0.64. Revenue for the quarter came in at $583 million versus the consensus estimate of $555.75 million.

• Third-quarter Financial Advisory operating revenue of $291 million, up 24% from third-quarter 2013; first nine-month operating revenue of $847 million, up 27% from prior-year period
• Third-quarter M&A and Other Advisory operating revenue of $241 million, up 37% from third-quarter 2013; record first nine-month operating revenue of $714 million, up 38% from prior-year period
• Record third-quarter Asset Management operating revenue of $288 million, up 16% from third-quarter 2013; record first nine-month operating revenue of $836 million, up 14% from prior-year period
• Assets under management of $198 billion as of September 30, 2014, up 12% from September 30, 2013, and down 3% from June 30, 2014. Net inflows of $2.6 billion for third-quarter 2014
• Return of capital to shareholders totaling $387 million in the first nine months of 2014

For earnings history and earnings-related data on Lazard Ltd. (LAZ) click here.

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