From Yahoo Finance: 2025-04-25 06:44:00

Investment bank Lazard’s profit exceeded expectations in Q1, driven by strong asset management performance. However, CEO warns economic uncertainty may limit dealmaking. Shares down 1.8% at $39.15, falling 24% YTD. Market pullback and volatility prompt caution in acquisitions. Lazard faces unique pressures compared to larger competitors like Morgan Stanley and Goldman Sachs. Adjusted net income down 9% to $60 million, beating estimates. Financial advisory revenue fell 17% to $370 million, asset management revenue fell 4% to $264 million. Backlog in advisory growing, especially in Europe. Lazard maintains headcount at 3,253, focusing on expanding in the Middle East with new office in Abu Dhabi.



Read more at Yahoo Finance: Lazard’s first-quarter earnings surpass estimates, CEO warns of pressure on dealmaking