Lazard Earnings Cheat Sheet: Meets Wall Street’s Expectations

Lazard Ltd. (NASDAQ:LAZ) reported its results for the first quarter. Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. The companys Financial Advisory segment offers a range of services regarding mergers and acquisitions and strategic advisory matters etc.

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Lazard Earnings Cheat Sheet for the First Quarter

Results: Swung to a profit of $60 million (43 cents/diluted share) in the quarter. The Lazard Ltd. had a net loss of $33.5 million or a loss 38 cents per share in the year earlier quarter.

Revenue: Fell 1.3% to $457.9 million YoY.

Actual vs. Wall St. Expectations: LAZ fell right in step with the street’s estimates of 43 cents/share.

Quoting Management: “We have entered 2011 with momentum in our M&A, Strategic and Capital Advisory business, which increased 14% in aggregate,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “Our Asset Management business continued to achieve record performance in quarterly management fees and assets under management.”

Key Stats: A year-over-year revenue decrease last quarter snaps a streak of four consecutive quarters of revenue increases. The best quarter in that span was the first quarter of the last fiscal year, which saw revenue rise 68.1%.

Competitors to Watch: Lazard Ltd (NYSE:LBJ), Evercore Partners Inc. (NYSE:EVR), Greenhill & Co., Inc. (NYSE:GHL), Goldman Sachs Group, Inc. (NYSE:GS), Deutsche Bank AG (NYSE:DB), Rodman & Renshaw Capital Group Inc. (NASDAQ:RODM), KBW, Inc. (NYSE:KBW), Cowen Group, Inc. (NASDAQ:COWN), Jefferies Group, Inc. (NYSE:JEF), Citigroup (NYSE:C), Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM), and UBS AG (NYSE:UBS).

Today’s Performance: Shares of LAZ are trading at $41.11 as of April 27, 2011 at 7:59 AM ET, unchanged from the previous close.


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