This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lazard Ltd Reports First-Quarter 2012 Results

Lazard Ltd (NYSE: LAZ):

($ in millions, except

per share data and AUM)
Quarter Ended

March 31,

Quarter Ended

December 31,





% 1Q-4Q

As Adjusted 1
Operating revenue $499 $457 9% $469 6%
Financial Advisory $277 $229 21% $260 6%
Asset Management $210 $224 (6)% $204 3%
Net income $45 $59 (23)% $1
Diluted net income per share $0.33 $0.43 $0.01

Net income (loss) $26 $55 $(5)
Diluted net income (loss) per share $0.20 $0.43 $(0.04)

Supplemental Data
Quarter-end AUM ($ in billions) $157 $160 (2)% $141 11%
Average AUM ($ in billions) $150 $158 (5)% $140 7%

Lazard Ltd (NYSE: LAZ) today reported operating revenue 1 of $499 million for the quarter ended March 31, 2012. Net income, as adjusted 1, was $45 million, or $0.33 per share (diluted). These results exclude the pre-tax charge of $25 million related to previously disclosed staff reductions.

Net income on a U.S. GAAP basis, which includes the costs related to staff reductions, was $26 million, or $0.20 per share (diluted), for the quarter ended March 31, 2012. A reconciliation of our U.S. GAAP results to the adjusted results is presented on page 14 of this press release.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs