Lazard Ltd (LAZ) Releases Earnings Results, Beats Expectations By $0.03 EPS

Lazard Ltd (LAZ) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.61 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.58. The company posted revenue of $546.64 million in the period, compared to analysts expectations of $533.24 million. The company’s revenue was down -11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS.

Lazard Ltd opened for trading at $32.93 and hit $34.72 on the upside on Thursday, eventually ending the session at $34.5, with a gain of 3.26% or 1.09 points. The heightened volatility saw the trading volume jump to 16,78,710 shares. Company has a market cap of $4,477 M.

In a different news, on Mar 4, 2015, Alexander F. Stern (Chief Operating Officer) sold 63,000 shares at $50.80 per share price.

Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate partnership institutional government sovereign and individual clients a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters restructurings capital structure capital raising and various other financial matters. The Company’s Asset Management business segment offers a range of investment solutions and investment management services in equity and fixed income strategies alternative investments and private equity funds to corporations public funds sovereign entities endowments and foundations labor funds financial intermediaries and private clients.

Lazard Ltd

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