Lazard Rocks 3Q Earnings, Sticks It To the Naysayers
Thursday, November 10, 2005 - 10:27 am
Only months after its strong-willed CEO Bruce Wasserstein took Lazard public, the firm knocked the cover off the ball, with third quarter profits tripling to $51.7 million on strong M&A activity. The bottom line got serious help when Nextel was taken over by Sprint. The firm’s asset management business also showed healthy gains. Lazard shares jumped 13 percent on the news. Word.
Lazard 3rd Quarter Profit Triples [Bloomberg]
Lazard Profit Triples on Merger Activity [Reuters]
Lazard Net Revenue Rose 70% [Wall Street Journal]
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