Lazard reported adjusted net revenue of $786 million for the second quarter of 2026, a 2% increase from the same period last year. On a U.S. GAAP basis, net revenue was $808 million, with net income of $5 million or $0.03 per diluted share, while adjusted net income was $13 million or $0.12 per diluted share. Asset Management adjusted net revenue rose 23% to $331 million, driven by record ending assets under management of $285 billion and the best first-half net inflows in nearly 20 years. Financial Advisory adjusted net revenue declined 9% to $445 million, though the firm achieved its strongest announced half-year league table position since 2014. CEO Peter Orszag highlighted progress toward the firm's 2030 objectives, and CFO Tracy Farr noted that an elevated quarterly tax rate is not indicative of the full-year rate.
Lazard LtdLazard reported adjusted net revenue of $786 million, a 2% increase, with record assets under management and best first-half net inflows in nearly 20 years.