Lazard Ltd. (LAZ) Tops Q4 EPS by 69c, Revenues Beat

Lazard Ltd. (NYSE: LAZ) reported Q4 EPS of $1.66, $0.69 better than the analyst estimate of $0.97. Revenue for the quarter came in at $849 million versus the consensus estimate of $686.22 million.

• For the fourth quarter of 2020, net income, as adjusted, was $192 million, or $1.66 per share (diluted), a quarterly record.
• On a U.S. GAAP basis, net income for the fourth quarter was $190 million, or $1.64 per share (diluted).
• Record quarterly operating revenue of $849 million
• Record Financial Advisory quarterly operating revenue of $509 million
• Record year-end assets under management of $259 billion

“Our record quarterly results capped a remarkable year for Lazard. Our people overcame one of the most challenging environments in modern history to serve our clients with outstanding financial advice and solutions,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We enter 2021 with momentum across our businesses globally and growth opportunities in which we continue to invest.”

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

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