Lazard (NYSE:LAZ) reported stronger-than-anticipated results for the first quarter of 2025, with both earnings and revenue exceeding Wall Street forecasts.
The financial advisory and asset management firm announced net income of $60.4 million for the period ending March 31, 2025.
On a per-share basis, the New York-based company posted net income of 56 cents.
This significantly beat the average estimate of three analysts surveyed by Zacks Investment Research, who had anticipated earnings of 29 cents per share.
Lazard's revenue for the first quarter also topped expectations, coming in at $669.2 million.
The company's adjusted revenue reached $643.2 million, also surpassing the Street's forecasts.
According to the three analysts surveyed by Zacks, the average revenue expectation was $616.4 million.
Within its segments, Asset Management net revenue and adjusted net revenue for the first quarter of 2025 were reported at $288 million and $264 million, respectively.
These figures represent a decrease of 2% and 4% compared to the first quarter of 2024.