Lazard (LAZ) Dips 1% Despite Surpassing Q1 Earnings Estimates

Lazard Inc.’s (LAZ) first-quarter adjusted earnings per share of 66 cents beat the Zacks Consensus Estimate of 58 cents. This company had incurred a loss of 26 cents per share in the year-ago quarter.Results benefited from increased revenues and assets under management (AUM) balances. However, higher expenses acted as spoilsports.The company’s shares declined 1% following the release of its first-quarter 2024 results.Lazard’s net income (GAAP) was $35.8 million against a loss of$22.2 million reported in th ...