Lazard profit falls on financial advisory volatility, elevated tax rate
23/07/2026 11:36
Lazard profit falls on financial advisory volatility, elevated tax rate July 23 (Reuters) - Investment bank Lazard LAZ.N reported a lower second-quarter profit on Thursday, hurt by a drop in revenue at its financial advisory business and an elevated tax rate.
Net income fell to $5 million, or 3 cents per share, in the three months ended June 30. That compares with $55 million, or 52 cents per share, a year earlier.
(Reporting by Manya Saini in Bengaluru; Editing by Anil D'Silva)
((Manya.Saini@thomsonreuters.com; X: manya__saini;))
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