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Lazard (LAZ) Reports Q2 Earnings: What Key Metrics Have to Say
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Lazard (LAZ - Free Report) reported $684.64 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 10.4%. EPS of $0.52 for the same period compares to $0.24 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $646.54 million, representing a surprise of +5.89%. The company delivered an EPS surprise of +30.00%, with the consensus EPS estimate being $0.40.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $244.67 billion versus $251.32 billion estimated by two analysts on average.
Assets under management - Total Fixed Income: $46.11 billion versus the two-analyst average estimate of $47.34 billion.
Assets under management - Net Flows: $-6.6 billion versus $-5.17 billion estimated by two analysts on average.
Adjusted net revenue- Asset Management: $265.22 million compared to the $272.06 million average estimate based on three analysts. The reported number represents a change of -0.7% year over year.
Adjusted net revenue- Financial Advisory: $407.94 million versus $362.78 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +18.5% change.
Adjusted net revenue- Corporate: $11.49 million versus $11.70 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +30.5% change.
Shares of Lazard have returned +21.2% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Lazard (LAZ) Reports Q2 Earnings: What Key Metrics Have to Say
Lazard (LAZ - Free Report) reported $684.64 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 10.4%. EPS of $0.52 for the same period compares to $0.24 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $646.54 million, representing a surprise of +5.89%. The company delivered an EPS surprise of +30.00%, with the consensus EPS estimate being $0.40.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $244.67 billion versus $251.32 billion estimated by two analysts on average.
- Assets under management - Total Fixed Income: $46.11 billion versus the two-analyst average estimate of $47.34 billion.
- Assets under management - Net Flows: $-6.6 billion versus $-5.17 billion estimated by two analysts on average.
- Adjusted net revenue- Asset Management: $265.22 million compared to the $272.06 million average estimate based on three analysts. The reported number represents a change of -0.7% year over year.
- Adjusted net revenue- Financial Advisory: $407.94 million versus $362.78 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +18.5% change.
- Adjusted net revenue- Corporate: $11.49 million versus $11.70 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +30.5% change.
View all Key Company Metrics for Lazard here>>>Shares of Lazard have returned +21.2% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.