Lazard’s second-quarter non-GAAP EPS fell short by $0.23, though revenue exceeded expectations by $49.99M.
Lazard reported second-quarter non-GAAP earnings per share of $0.12, missing estimates by $0.23. Revenue reached $786M, a 1.3% year-over-year decline but $49.99M above forecasts.
The company’s Financial Advisory segment generated net revenue of $450 million and adjusted net revenue of $445 million for the quarter. Analysts had anticipated stronger earnings performance amid mixed revenue trends.
Shares showed limited immediate reaction to the mixed results, reflecting investor focus on revenue resilience despite the earnings miss.