Lazard is having a record-breaking year amid a 'choppy' environment for M&A

Investment bank Lazard is having a record year, blowing past second-quarter revenue and profit estimates.
Lazard posted $120 million in profits in the quarter, or $0.91 per share, to go along with a record $720 million in operating revenue. 
That well exceeded analyst expectations of $0.79 earnings per share and $629 million in revenue. 
The firm also reported that assets under management rose to a record $226 billion, up $34 billion from a year ago.
"Lazard's record operating revenue