Why did Lazard (NYSE:LAZ) report lower quarterly profit?

Lazard (NYSE:LAZ) reported lower profit because Financial Advisory revenue declined and its quarterly income-tax rate increased. GAAP net income fell from $55 million to $5 million, while adjusted net income declined to $13 million.

What are Lazard’s (NYSE:LAZ) Q2 revenue figures?

Lazard (NYSE:LAZ) reported net revenue of $808 million, up 1%, and adjusted net revenue of $786 million, up 2%. Asset Management growth partly offset lower Financial Advisory revenue.

How did Lazard’s (NYSE:LAZ) business divisions perform?

Lazard’s (NYSE:LAZ) Financial Advisory revenue declined 9% to $450 million, while Asset Management revenue increased 20% to $351 million. The company attributed Asset Management growth partly to higher assets and client inflows.

What does Lazard’s (NYSE:LAZ) record AUM mean?

Lazard’s (NYSE:LAZ) record $285 billion in period-end assets under management represents the value of client assets managed by the firm. Average AUM reached $279 billion, while the company reported its strongest first-half net inflows in nearly 20 years.

How is Lazard (NYSE:LAZ) returning capital to shareholders?

Lazard (NYSE:LAZ) returned $277 million to shareholders during the first half of 2026. The company authorized another $200 million for share repurchases and declared a quarterly common dividend of $0.50 per share.

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Lazard Posts Modest Revenue Growth to $808 Million

Written by Liezl GambePublished Jul 23, 2026, 12:36 PM

Lazard reported second-quarter net revenue of $808 million, up 1%, and adjusted net revenue of $786 million, up 2%.
Adjusted EPS of $0.12 missed the $0.36 analyst estimate, sending Lazard shares down nearly 7% in premarket trading.
Asset Management revenue increased 20% as period-end assets under management reached a record $285 billion.

Lazard (NYSE:LAZ) reported second-quarter net revenue of $808 million, up 1%, while adjusted net revenue increased 2% to $786 million.

GAAP net income fell to $5 million from $55 million, while adjusted EPS of $0.12 missed the $0.36 analyst estimate.

Financial Advisory revenue declined 9% to $450 million, while an elevated tax rate and higher expense ratios pressured quarterly earnings.

Following the announcement, Lazard's share price was down 6.8% at approximately $40.56 in premarket trading.

Asset Management revenue rose 20% to $351 million, while period-end assets under management reached a record $285 billion.

Meanwhile, Lazard returned $277 million to shareholders in the first half, added $200 million to its repurchase authorization and declared a $0.50 quarterly dividend.

Lazard Posts Modest Revenue Growth to $808 Million

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