Lazard Shares Dip After Q3 Revenue and Adjusted Earnings Miss Estimates

Lazard shares dipped in premarket trading Thursday after the financial advisory and asset-management firm posted third-quarter revenue and adjusted earnings per share below analyst expectations. For the quarter ended Sept. 30, GAAP net revenue rose 9% from a year earlier to $814 million. Adjusted net revenue climbed 11% to $805 million. Adjusted diluted earnings were $0.36 per share, down from $0.56 a year earlier; GAAP diluted earnings were $0.26 per share, compared with $0.65. Farr's remarks add context to TokenPost’s earlier coverage of Lazard’s third-quarter earnings .

Source: TokenPost