Lazard三季度调整后EPS $0.36同比降36%且双项不及预期，盘前一度涨6.6%后倒跌约5%

Lazard ( LAZ ) was trading lower as third-quarter earnings missed analyst estimates in terms of revenue and EPS. During the company's Q3 earnings call, Orszag attributed the miss to the limited number of deal "pull-forwards" during the quarter and dismissed concerns surrounding the muted investment banking season. Shares were 5.81% lower at $35.20 during pre-market trading on Thursday. On an adjusted basis, net income per share, diluted, stood at $0.36, down 36% from $0.56 in the third quarter of 2025. The Visible Alpha consensus stood at $0.42. Net revenue increased 9% year-over-year to $814M from $748M, below the average analyst estimate of $852.94M. Financial advisory revenue rose 10% to $470M, while asset management revenue increased 9% to $357M. "Financial Advisory delivered record third quarter revenue as the investments we have made in the business increasingly translate into results, while client activity and our forward indicators remain strong," said CEO Peter Orszag. "In asset management, record year-to-date gross inflows reflect improving investment performance and focused distribution efforts. With our new private capital advisory business, Lazard CL, launching in early November, we are building a more productive, diversified firm positioned for long-term profitable growth," said Orszag. As of September 30, assets under management stood at $284B, below the consensus of $285.17B. The asset manager declared a quarterly dividend of $0.50 per share, payable on November 13 to stockholders of record on November 2.