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AI brief of an SEC Form 8-K · Lazard (LAZ)

Lazard Q3 adjusted revenue rises 12% to $725 million; GAAP net revenue falls 5%

Mixed Impact 3 of 5 earnings Written later

Lazard reported third-quarter 2025 results, with GAAP net revenue of $748 million, down 5% from a year earlier, and adjusted net revenue of $725 million, up 12%. GAAP diluted EPS was $0.65, down 36%, while adjusted diluted EPS was $0.56, up 47%, so the headline measures point in different directions depending on the basis used.

Key points

  • GAAP net income was $71 million, or $0.65 per diluted share, versus $108 million, or $1.02, in Q3 2024.
  • Adjusted diluted EPS was $0.56, versus $0.38 in Q3 2024; Financial Advisory adjusted net revenue rose 14% to $422 million.
  • Adjusted compensation ratio was 65.5% versus 66.0% a year earlier; the company declared a $0.50 quarterly dividend payable November 14, 2025.

The filing

CompanyLazard (LAZ)
Form8-K, current report
Filed with the SECOct 23, 2025, 6:30 AM ET
Accession number0001311370-25-000047

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 23, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.