Lazard: Q3 Earnings Snapshot

Associated Press Finance
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HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Lazard Ltd (LAZ) on Thursday reported third-quarter net income of $7.1 million.

On a per-share basis, the Hamilton, Bermuda-based company said it had net income of 6 cents. Earnings, adjusted for non-recurring costs, came to 10 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The company posted revenue of $543.2 million in the period. Its adjusted revenue was $531.6 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $592.6 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LAZ at https://www.zacks.com/ap/LAZ

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