---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-013734"
form_type: "8-K"
ticker: "LAZ"
cik: "0001311370"
company_name: "Lazard, Inc."
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T06:17:36.856190+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-013734
- form_type: 8-K
- ticker: LAZ
- cik: 0001311370
- company_name: Lazard, Inc.
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1311370/000162828023013734/0001628280-23-013734-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1311370/000162828023013734/laz-20230428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-013734
- JSON: https://secwatch.observer/filing/0001628280-23-013734.json
- Plain text: https://secwatch.observer/filing/0001628280-23-013734.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1311370/000162828023013734/0001628280-23-013734-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.