Lazard Q2 net income falls 91% to $5 million as net revenue rises 1%
Lazard reported second-quarter 2026 net revenue of $808 million, up 1% from a year earlier, while U.S. GAAP net income fell 91% to $5 million, or $0.03 per share diluted. The company cited an elevated tax rate and said adjusted net income was $13 million, or $0.12 per share. The board also declared a $0.50 quarterly dividend and authorized an additional $200 million in share repurchases.
Key points
- Net revenue $808 million vs. $796 million a year earlier; Financial Advisory fell 9% to $450 million while Asset Management rose 20% to $351 million.
- U.S. GAAP diluted EPS $0.03 vs. $0.52 in Q2 2025; adjusted diluted EPS $0.12 vs. $0.52.
- On July 22, 2026, the board authorized $200 million in additional buybacks and declared a $0.50 per share dividend payable August 14, 2026 to holders of record on August 3, 2026.
- Cash and cash equivalents were $1,100 million as of June 30, 2026.
The filing
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 July 23, 2026.
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.