Lazard Ltd. (LAZ) Misses Q1 EPS by 4c, Revenues Miss

Lazard Ltd. (NYSE: LAZ) reported Q1 EPS of $0.58, $0.04 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $563 million versus the consensus estimate of $571.33 million.

• Seamless transition to remote working environment during COVID-19 pandemic
• Financial Advisory and Asset Management highly active as clients seek trusted expert advice
• $211 million of capital returned to shareholders in first quarter

“Lazard’s first priority during the global COVID-19 pandemic has been the health and safety of our employees, and we are focused on serving clients with all the resources of our global platform,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We seamlessly transitioned to a remote work environment, thanks to our investments in technology and the dedication of our global teams, who are helping clients navigate tremendous challenges caused by the pandemic and its economic impact. With Lazard’s solid financial footing, our deep relationships with clients, and unrivaled expertise in strategic advisory, restructuring and asset management solutions, we fully expect to emerge from this period in a position of strength.”

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

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