Lazard’s First-Quarter Profit Declines Amid Economic Uncertainty

Lazard, a prominent investment bank, announced a 9% decrease in adjusted profit for the first quarter on Friday. This downturn is attributed to a hesitancy among companies to engage in deal-making due to economic turbulence fueled by tariffs and potential trade conflicts.

The recent market correction, coupled with heightened market volatility and overall economic ambiguity, has led CEOs and boards of directors to postpone acquisition plans.

Merger and acquisition activities within the U.S. experienced a 13% decline during the initial three months of 2025. Globally, investment banking fees witnessed a 4.9% reduction, reaching $21.47 billion for the quarter, according to data.

Lazard’s financial advisory revenue for the first quarter of 2025 amounted to $370 million, a 17% decrease compared to the $447 million reported during the corresponding period last year.

The firm’s net income, on an adjusted basis, was reported as $60 million, equivalent to 56 cents per share, for the first quarter. This is compared to $67 million, or 66 cents per share, in the previous year.