Company: LAZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021162
Chunk: 41

Company: Lazard, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 Equity$4,232,067 $4,793,993 

See notes to condensed consolidated financial statements.3

LAZARD, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2025 AND 2024

(UNAUDITED)

(dollars in thousands, except for per share data)

Three Months EndedMarch 31,20252024REVENUEInvestment banking and other advisory fees$360,367 $453,027 Asset management fees264,616 276,849 Interest income11,662 11,471 Other32,519 44,134 Total revenue669,164 785,481 Interest expense21,113 20,728 Net revenue648,051 764,753 OPERATING EXPENSESCompensation and benefits430,270 550,824 Occupancy and equipment35,413 32,857 Marketing and business development27,731 23,599 Technology and information services46,216 44,917 Professional services18,837 19,880 Fund administration and outsourced services26,545 26,140 Other8,404 11,975 Total operating expenses593,416 710,192 OPERATING INCOME 54,635 54,561 Provision (benefit) for income taxes(7,354)14,337 NET INCOME 61,989 40,224 LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS1,614 4,469 NET INCOME ATTRIBUTABLE TO LAZARD$60,375 $35,755 ATTRIBUTABLE TO LAZARD COMMON STOCKHOLDERS:WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:Basic95,255,42391,260,465Diluted104,828,75399,351,769NET INCOME PER SHARE OF COMMON STOCK:Basic$0.61 $0.38 Diluted$0.56 $0.35 

See notes to condensed consolidated financial statements.4

LAZARD, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2025 AND 2024

(UNAUDITED)

(dollars in thousands)

Three Months Ended