Lazard Q2 2023 Earnings Report
Key Takeaways
Lazard Ltd reported operating revenue of $620 million for the second quarter ended June 30, 2023. Net income, as adjusted, was $23 million, or $0.24 per share, diluted, for the quarter. On a U.S. GAAP basis, second-quarter 2023 net loss was $124 million, or $1.41 per share, diluted.
Second-quarter operating revenue was $620 million.
Asset Management AUM was $239 billion, up 11% year-to-date.
Financial Advisory second-quarter operating revenue was up 26% from first quarter.
Adjusted compensation ratio for the second quarter of 2023 was 68.4%.
Lazard
Lazard
Lazard Revenue by Segment
Forward Guidance
Lazard’s diversified global business model has proven resilient during the continued challenging market conditions in the second quarter. The Asset Management business is well-positioned, and the M&A market is stabilizing and conditions are set for the beginning of a rebound.
Revenue & Expenses
Visualization of income flow from segment revenue to net income