Lazard: Q1 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Lazard, Inc. (LAZ) on Thursday reported first-quarter profit of $35.8 million.

On a per-share basis, the New York-based company said it had profit of 35 cents. Earnings, adjusted for one-time gains and costs, came to 66 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The company posted revenue of $785.5 million in the period. Its adjusted revenue was $746.6 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $691.2 million.

_____

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