Lazard Posts Profit, Revenue Decline But Sees Signs of Improving Business Conditions

Dow Jones

Oct 23, 2025

By Connor Hart

Lazard logged lower profit and revenue in the third quarter but said the business environment is improving overall, as clients are increasingly engaging with the firm.

The financial-services company on Thursday posted a profit of $71.2 million, or 65 cents a share, compared with $107.9 million, or $1.02 a share, a year earlier.

Stripping out certain one-time items, adjusted earnings came in at 56 cents a share. Analysts polled by FactSet expected adjusted EPS of 44 cents a share.

Net revenue slipped 6% to $748.1 million but topped the $717.6 million that Wall Street modeled.

Revenue across the company's financial advisory arm climbed 15% to $427 million, and asset-management revenue rose 11% to $327 million.

"We see an increasingly constructive environment for both of our businesses, with substantial client engagement firmwide," Chief Executive Peter Orszag said, adding the company's long-term strategy is gaining momentum and producing results.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

October 23, 2025 07:07 ET (11:07 GMT)

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