Lazard Q4 revenue rises 11% to $907 million; GAAP profit falls 42%
Lazard reported fourth-quarter 2025 net revenue of $907 million, up 11% from a year earlier, while U.S. GAAP net income fell 42% to $50 million. Adjusted diluted EPS rose 3% to $0.80, and the company also named Tracy Farr as Chief Financial Officer. The mixed results matter to shareholders because GAAP earnings declined even as revenue grew.
Key points
- Q4 2025 U.S. GAAP net revenue was $907 million, up 11%; full-year net revenue was $3,099 million, up 2%
- Q4 2025 U.S. GAAP diluted EPS was $0.45, down 44%; adjusted diluted EPS was $0.80, up 3%
- Full-year 2025 U.S. GAAP diluted EPS was $2.17, down 19%; adjusted diluted EPS was $2.44, up 4%
- Tracy Farr was appointed Chief Financial Officer; a quarterly dividend of $0.50 per share was declared, payable February 20, 2026
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits 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 January 29, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.