=Lazard (LAZ) reported earnings on Thur 28 Jul 2016 (b/o)

Lazard beats by $0.03, beats on revs :

• Reports Q2 (Jun) earnings of $0.61 per share, excluding non-recurring items, $0.03 better thanthe Capital IQ Consensus of $0.58; revenues fell 11.9% year/year to $546.64 mln vs the $533.24 mln Capital IQ Consensus.
  • Financial Advisory operating revenue of $287 million for the second quarter of 2016 and $553 million for the first half, down 9% and 11%, respectively, from 2015
  • M&A and Other Advisory operating revenue of $203 million for the second quarter of 2016 and $418 million for the first half, down 26% and 22%, respectively, from 2015.
  • Asset Management operating revenue of $251 million for the second quarter of 2016 and $490 million for the first half, down 14% and 13%, respectively, from 2015.
  • Second-quarter management fees of $238 million, up 5% from first-quarter 2016
• Assets under management of $192 billion as of June 30, 2016, down 6% from June 30, 2015, and up 1% from March 31, 2016.
  • Net inflows of $453 million for second-quarter 2016
• Return of capital to shareholders totaling $491 million in the first half of 2016.