Revenue: As of FY2025 Q3, the actual value is USD 748.08 M.EPS: As of FY2025 Q3, the actual value is USD 0.65, beating the estimate of USD 0.42.EBIT: As of FY2025 Q3, the actual value is USD 117.62 M.<h3>Financial Advisory Segment</h3><ul><li>Net Revenue: For the third quarter of 2025, Financial Advisory reported net revenue of $427 million, a 15% increase from the third quarter of 2024. For the first nine months of 2025, net revenue was $1,292 million, a 5% increase from the same period in 2024.</li><li>Adjusted Net Revenue: Adjusted net revenue for the third quarter was $422 million, a 14% increase from the third quarter of 2024. For the first nine months, adjusted net revenue was $1,283 million, a 5% increase from the same period in 2024.</li></ul><h3>Asset Management Segment</h3><ul><li>Net Revenue: For the third quarter of 2025, Asset Management reported net revenue of $327 million, an 11% increase from the third quarter of 2024. For the first nine months of 2025, net revenue was $908 million, a 4% increase from the same period in 2024.</li><li>Adjusted Net Revenue: Adjusted net revenue for the third quarter was $294 million, an 8% increase from the third quarter of 2024. For the first nine months, adjusted net revenue was $827 million, a 2% increase from the same period in 2024.</li><li>Assets Under Management (AUM): Ending AUM as of September 30, 2025, was $265 billion, a 7% increase from September 30, 2024, and a 17% increase year-to-date.</li></ul><h3>Operational Metrics</h3><ul><li>Net Income: For the third quarter of 2025, net income on a U.S. GAAP basis was $71 million, a 34% decrease from the third quarter of 2024. For the first nine months of 2025, net income was $187 million, a 3% decrease from the same period in 2024.</li><li>Adjusted Net Income: Adjusted net income for the third quarter was $62 million, a 56% increase from the third quarter of 2024. For the first nine months, adjusted net income was $178 million, a 12% increase from the same period in 2024.</li></ul><h3>Operating Expenses</h3><ul><li>Compensation and Benefits Expense: For the third quarter of 2025, compensation and benefits expense on a U.S. GAAP basis was $498 million, a 7% increase from the third quarter of 2024. On an adjusted basis, it was $475 million, an 11% increase from the third quarter of 2024.</li><li>Non-Compensation Expenses: For the third quarter of 2025, non-compensation expenses on a U.S. GAAP basis were $175 million, an 11% increase from the third quarter of 2024. On an adjusted basis, non-compensation expenses were $149 million, an 8% increase from the third quarter of 2024.</li></ul><h3>Cash Flow and Capital Management</h3><ul><li>Cash and Cash Equivalents: As of September 30, 2025, cash and cash equivalents were $1,172 million.</li><li>Shareholder Returns: In the third quarter of 2025, Lazard returned $60 million to shareholders, including $47 million in dividends and $1 million in stock repurchases.</li></ul><h3>Outlook / Guidance</h3>Lazard anticipates a constructive environment for both its Financial Advisory and Asset Management businesses, with substantial client engagement firmwide. The company is focused on long-term growth strategies and expects to continue building momentum with the upcoming leadership change in Asset Management.

Lazard | 8-K: FY2025 Q3 Revenue: USD 748.08 M