Lazard Earnings: Here’s Why Shares are Up Now

Lazard Ltd. (NYSE:LAZ) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.8%.

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Lazard Ltd. Earnings Cheat Sheet

Results: Net loss increased 4.38% to $5 million (+0.61 cents per diluted share excluding items) in the quarter versus a net loss of $4.79 million in the year-earlier quarter.

Revenue: Rose 21.32% to $574 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Lazard Ltd. reported adjusted net income of 61 cents per share. By that measure, the company beat the mean analyst estimate of $0.33. It beat the average revenue estimate of $477.2 million.

Quoting Management: “Lazard’s 2012 results underscore the strength and resilience of our business model,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “Operating revenue is near record levels, reflecting the increasing diversification of our global franchise and our ability to anticipate the evolving needs of our clients.”

Key Stats (on next page)…

Revenue increased 27.71% from $449.46 million in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.38 and has not changed. For the current year, the average estimate has moved up from a profit of $1.12 to a profit of $1.15 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)