Lazard second-quarter profit rises 94%

Lazard Ltd (LAZ.N) reported an over 94% rise in second-quarter profit on Friday as the investment bank’s advisory business benefited from record dealmaking activity in capital markets.

Net income, on an adjusted basis, rose to $146 million, or $1.28 per share, for the quarter ended June 30, from $75 million, or 67 cents per share a year earlier.

Analysts on average were expecting a profit of 89 cents per share, according to IBES data from Refinitiv.

Operating revenue rose 51% to $821 million.