Lazard Reports Rise in Q4 Profit Driven by Advisory Business
Lazard (LAZ), a leading investment bank, announced a notable increase in its fourth-quarter profit on Thursday. This rise is attributed to a robust performance in its advisory services.
Favorable market conditions, including interest rate cuts by the Federal Reserve and anticipation of a more supportive regulatory environment under the Trump administration, have boosted sentiment among bankers.
For the second half of 2024, major Wall Street banks have benefited from a resurgence in mergers and acquisitions, coupled with renewed activity in equity and debt markets. Aligned with this trend, Lazard experienced a 6% adjustment in financial advisory revenue in the final quarter of 2024, reaching $508 million.
For the three months ended December 31, 2024, Lazard reported an adjusted net income of $85 million, translating to 78 cents per share. This represents an increase compared to $65 million or 66 cents per share in the corresponding period of the previous year.