Company: LAZ
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0001311370-25-000022
Chunk: 46

Company: Lazard, Inc.
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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685,154 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity$4,493,386 $4,793,993 

See notes to condensed consolidated financial statements.3

LAZARD, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE MONTH AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(UNAUDITED)

(dollars in thousands, except for per share data)

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024REVENUEInvestment banking and other advisory fees$493,226 $408,773 $853,593 $861,800 Asset management fees275,605 267,914 540,221 544,763 Interest income9,207 12,854 20,869 24,325 Other39,122 18,450 71,641 62,584 Total revenue817,160 707,991 1,486,324 1,493,472 Interest expense21,163 22,642 42,276 43,370 Net revenue795,997 685,349 1,444,048 1,450,102 OPERATING EXPENSESCompensation and benefits519,208 452,560 949,478 1,003,384 Occupancy and equipment33,703 32,031 69,116 64,888 Marketing and business development29,593 25,493 57,324 49,092 Technology and information services49,272 46,406 95,488 91,323 Professional services24,589 23,734 43,426 43,614 Fund administration and outsourced services30,054 27,114 56,599 53,254 Other16,497 14,371 24,901 26,346 Total operating expenses702,916 621,709 1,296,332 1,331,901 OPERATING INCOME 93,081 63,640 147,716 118,201 Provision for income taxes31,764 11,587 24,410 25,924 NET INCOME 61,317 52,053 123,306 92,277 LESS - NET INCOME ATTRIBUTABLE TO NONCONT