Lazard Reports Q4 Earnings Beat, Revenue Tops Estimates
Lazard, Inc. (LAZ) reported fourth-quarter net income of $86.3 million, translating to earnings per share of 80 cents.
Adjusted for non-recurring gains, earnings per share came in at 78 cents, exceeding Wall Street expectations. The average analyst estimate from Zacks Investment Research was 51 cents per share.
Revenue for the period reached $816.9 million, with adjusted revenue at $812.4 million, also surpassing analysts' forecasts. Three analysts surveyed by Zacks had projected $739.5 million in revenue.
For the full year, Lazard reported a profit of $279.9 million, or $2.68 per share, on revenue of $2.89 billion.