Lazard Ltd. (LAZ) Tops Q4 EPS by 23c

Lazard Ltd. (NYSE: LAZ) reported Q4 EPS of $1.29, $0.23 better than the analyst estimate of $1.06. Revenue for the quarter came in at $646 million versus the consensus estimate of $615.99 million.

“Lazard’s results reflect strong performance across both our businesses,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We have achieved our financial goals while investing in the firm and strengthening our market position. All of Lazard’s stakeholders have benefitted from this achievement: our clients, our shareholders and our employees.”

“We have established a solid foundation for profitable growth,” said Mr. Jacobs. “Lazard has a powerful global franchise with distinct positioning, capacity for increased activity and operating leverage.”

“Increased profitability has enhanced Lazard’s cash generation,” said Matthieu Bucaille, Chief Financial Officer of Lazard. “Consistent with our capital management objectives, we are returning capital to shareholders with a special dividend of $1.00 per share in addition to our regular quarterly dividend.”

For earnings history and earnings-related data on Lazard Ltd. (LAZ) click here.

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