Lazard Q1 2023: operating revenue $527M (-25% YoY), net loss $0.27/sh

Lazard, Inc.

2023-Q1 EPS reported -$0.27 revenue$561,911,000

GAAP net loss $22M ($0.27 diluted EPS) vs. profit $114M ($1.05) in Q1 2022.
Operating revenue $527M, down 25% YoY; Financial Advisory -29%, Asset Management -15%.
Cost-saving initiatives cutting ~10% of workforce; $21M charge in Q1, ~$95M more expected.
AUM $232B, up 7% from Dec 31, 2022; net inflows $3.0B including $3.9B from wealth mgmt acquisition.
Quarterly dividend $0.50/sh declared; $187M returned to shareholders in Q1 including $99M buybacks.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lazard, Inc. reported the quarter ended March 31, 2023 results: revenue $527 million, net income $22 million, EPS $0.27 per share, diluted.

Period: the quarter ended March 31, 2023
Revenue: $527 million
Net income: $22 million
EPS: $0.27 per share, diluted
Result: reported results

Exact text from the filing

Lazard Ltd (NYSE: LAZ) today reported operating revenue 1 of $527 million for the quarter ended March 31, 2023. Net loss, as adjusted 2 , was $23 million, or $0.26 per share, diluted, for the quarter. First-quarter 2023 net loss on a U.S. GAAP basis was $22 million, or $0.27 per share, diluted.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Lazard, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-013734

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.