NEW YORK (AP) — NEW YORK (AP) — Lazard, Inc. (LAZ) on Friday reported first-quarter profit of $100.9 million.
The New York-based company said it had net income of 91 cents per share. Earnings, adjusted for non-recurring gains, came to 42 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The company posted revenue of $779.4 million in the period. Its adjusted revenue was $673 million, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $744.4 million.
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