Lazard Reports Strong Q2 Earnings Amid Progress on Long-Term Strategy
Lazard reported second-quarter adjusted net revenue of $786 million, with strong performance in both Financial Advisory and Asset Management segments. The firm noted progress toward its Lazard 2030 strategy, as reflected in client activity, advisory pipelines, and asset flows. Financial Advisory was led by North American M&A transactions, while the Asset Management segment ended June with $285 billion in assets under management (AUM) and first-half net inflows of $7.4 billion—the best performance in nearly 20 years. Despite strong revenue growth, Lazard faces near-term challenges from high compensation expenses and an elevated effective tax rate for the quarter. Management expects these ratios to improve over time and reiterated plans to restart share buybacks and integrate Campbell Lutyens. The firm also highlighted recent advisory assignments involving large-scale transactions such as Altice France’s proposed sale of SFR and NextEra's combination with Dominion Energy.
Tickers: $LAZ
Topics: asset management buybacks financial advisory revenue growth