Business
Lazard Reports Fourth Quarter and Full Year 2025 Results
Lazard, Inc. (NYSE: LAZ) today reported net revenue of $907 million and adjusted net revenue2 of $892 million for the quarter ended December 31, 2025. For the full year of 2025, Lazard reported net revenue of $3,099 million and adjusted net revenue2 of $3,030 million.
About this update from Lazard, Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"Record full-year Financial Advisory adjusted net revenue of $1.8 billion","length":72,"tagName":"p"}]},{"val":[{"type":"text","content":"Record full-year Asset Management inflows and total AUM up 12% year-over-year","length":77,"tagName":"p"}]},{"val":[{"type":"text","content":"Financial Advisory ahead of 2030 targets, with revenue per MD of $8.9 million1 and 21 Managing Directors hired during 2025","length":122,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":271,"olType":false},{"type":"text","content":"NEW YORK, Jan. 29, 2026 /PRNewswire/ -- Lazard, Inc. (NYSE: LAZ) today reported net revenue of $907 million and adjusted net revenue2 of $892 million for the quarter ended December 31, 2025. For the full year of 2025, Lazard reported net revenue of $3,099 million and adjusted net revenue2 of $3,030 million.","length":313,"tagName":"p"},{"type":"image","alt":"Lazard Logo (PRNewsfoto/Lazard)","displaySize":"","headline":null,"caption":"Lazard Logo (PRNewsfoto/Lazard)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":142,"url":"https://media.zenfs.com/en/prnewswire.com/d0cce6789b17c693c82adc2716bddeba"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/qstTMxuYmfGxlQal18Obsg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI1MDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/d0cce6789b17c693c82adc2716bddeba","width":400,"height":142}},"href":"https://mma.prnewswire.com/media/2860834/Lazard_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"On a U.S. GAAP basis, Lazard reported fourth-quarter 2025 net income of $50 million or $0.45 per share, diluted. For the full year of 2025, net income on a U.S. GAAP basis was $237 million or $2.17 per share, diluted. For the fourth quarter 2025, adjusted net income2 was $89 million or $0.80 per share, diluted. For the full year of 2025, adjusted net income2 was $266 million or $2.44 per share, diluted.","length":406,"tagName":"p"},{"type":"text","content":""2025 demonstrates our ongoing focus on executing our Lazard 2030 long-term growth strategy, with record revenue in Financial Advisory and record gross inflows in Asset Management," said Peter R. Orszag, CEO and Chairman of Lazard. "Efforts to transform both businesses over the past two years are gaining traction and delivering...