Lazard Inc

LAZ: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$38.00	Ggfnmyp	Xqwvvcpzr

Lazard Earnings: Good End to the Year; Company Hopes for the Beginning of Growth Runway

Michael Wong

Feb 2, 2024

Lazard ended a tough 2023 on a strong note, with the company positioning itself for what it hopes is the start of a long runway of growth. Lazard reported fourth-quarter net income to common shareholders of $64 million, or $0.65 per diluted share, on $806 million of net revenue. We were encouraged to see a swing in market sentiment during the quarter, which left revenue for the period 41% higher than the average of the prior three quarters.

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