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Compared to Estimates, Lazard (LAZ) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2023, Lazard (LAZ - Free Report) reported revenue of $620.03 million, down 8.3% over the same period last year. EPS came in at $0.24, compared to $0.92 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $567.81 million, representing a surprise of +9.20%. The company delivered an EPS surprise of +118.18%, with the consensus EPS estimate being $0.11.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Lazard performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Assets under management - End of Period: $239.3 billion compared to the $221.2 billion average estimate based on two analysts.
Assets under management - Total Equity: $184.7 billion versus $171.2 billion estimated by two analysts on average.
Assets under management - Net Flows: $-1 billion compared to the $-1.4 billion average estimate based on two analysts.
Assets under management - End of Period - Other: $8.8 billion versus $7.4 billion estimated by two analysts on average.
Assets under management - Total Fixed Income: $45.9 billion compared to the $42.6 billion average estimate based on two analysts.
Operating revenue- Financial Advisory- Non-GAAP: $344.17 million compared to the $306.17 million average estimate based on three analysts. The reported number represents a change of -15.4% year over year.
Operating revenue- Corporate- Non-GAAP: $8.80 million versus $3.61 million estimated by three analysts on average.
Operating revenue- Asset Management- Non-GAAP: $267.06 million compared to the $256.02 million average estimate based on three analysts. The reported number represents a change of +0.4% year over year.
Shares of Lazard have returned +15.2% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Lazard (LAZ) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Lazard (LAZ - Free Report) reported revenue of $620.03 million, down 8.3% over the same period last year. EPS came in at $0.24, compared to $0.92 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $567.81 million, representing a surprise of +9.20%. The company delivered an EPS surprise of +118.18%, with the consensus EPS estimate being $0.11.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Lazard performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Assets under management - End of Period: $239.3 billion compared to the $221.2 billion average estimate based on two analysts.
- Assets under management - Total Equity: $184.7 billion versus $171.2 billion estimated by two analysts on average.
- Assets under management - Net Flows: $-1 billion compared to the $-1.4 billion average estimate based on two analysts.
- Assets under management - End of Period - Other: $8.8 billion versus $7.4 billion estimated by two analysts on average.
- Assets under management - Total Fixed Income: $45.9 billion compared to the $42.6 billion average estimate based on two analysts.
- Operating revenue- Financial Advisory- Non-GAAP: $344.17 million compared to the $306.17 million average estimate based on three analysts. The reported number represents a change of -15.4% year over year.
- Operating revenue- Corporate- Non-GAAP: $8.80 million versus $3.61 million estimated by three analysts on average.
- Operating revenue- Asset Management- Non-GAAP: $267.06 million compared to the $256.02 million average estimate based on three analysts. The reported number represents a change of +0.4% year over year.
View all Key Company Metrics for Lazard here>>>Shares of Lazard have returned +15.2% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.