Lazard Inc. (LAZ: chart), a 157-year old banking partnership that went public in May, reported that proforma net income grew to $32.02 million, or 32 cents a share, in the three-month period ended June 30, versus $24.74 million, or 25 cents, in the year-ago quarter.

Analysts expected Lazard to earn 33 cents a share.

Total revenue increased to $336.4 million vs. $286.43 million a year earlier. Operating revenue jumped to $330.13 million versus $282.06 million.

Net income according to generally accepted accounting principles was $27.59 million, down versus $79.36 million.

Mergers-and-acquisition revenues increased 35% to $182 million in the quarter.

Proforma figures for Lazard provide a more exact idea of the company's performance because the accounting rules used to calculate earnings on a GAAP basis for 2Q, when the company was public, are different from rules used when it was a partnership.

Lazard shares ended Tuesday at $23.60 on the NYSE, down 5.6% from their IPO price of $25.

American International Group Inc.'s (AIG: chart) second-quarter profit jumped 51% as strong results in the insurer's overseas units and soaring capital gains offset decreasing business volume in some U.S. operations due to accounting probes by state and federal authorities.

AIG posted net income of $3.99 billion, or $1.53 a share, versus $2.65 billion, or $1.01 a share last year, as revenue jumped 14% to $26.86 billion.

In 4 p.m. composite trading on the NYSE Tuesday, AIG stock was up 42 cents to $61.42. In after-hours trading, AIG climbed another 2.4% to $62.90.

AIG's latest results, which come after a 44% growth in 1Q net income, were bolstered by hefty realized capital gains in the insurer’s large investment portfolio and unrealized gains from financial derivatives used to hedge risk.

The results included a $333 million charge reflecting a restatement to the books of International Lease Finance Corp., AIG's airplane-leasing business.

AIG said its general-insurance premiums climbed 4.2%, while industry-wide, property-casualty premium rates have been flattening after a several-year streak of double- and even triple-digit gains.

Walt Disney Co. (DIS: chart) reported a 41% jump in profit for its fiscal 3Q, helped by its strong television division andextending gains that began in 2004.

For the quarter ended July 2, the entertainment company posted net income of $851 million, or 41 cents a share, as revenue grew 3% to $7.72 billion. That compares with a year-ago profit of $604 million, or 29 cents a share, on revenue of $7.47 billion.

The results outpaces earnings expectations from analysts, who had forecast a 38 cent-a-share performance.

Disney's parks and resorts division provided another rosy figures in the third quarter. Operating profit increased 6% to $448 million, helped by growth in attendance at various sites.

In the consumer-products area, operating profit fell 20% to $61 million, and revenue dipped 23%. The company blamed the declines on selling the Disney Store North America last November, and growing product-development spending at the company's games unit.

Cisco Systems Inc. (CSCO: chart) reported a 12% jump in earnings and an 11% increase in revenue for its 4Q, but issued weaker-than-expected financial guidance for the current quarter.

The tech bellwether enjoyed growth across multiple product areas and geographic markets over the just-ended quarter. The fourth quarter is traditionally the strongest quarter of the fiscal year, and the current quarter follows that trend, according to the company.

The maker of computer-networking equipment guided revenue in the current quarter ending in late October to a rise of 10% from a year earlier, flat to slightly down vs. 4Q, below analysts' expectations. For the full year, Cisco sees revenue to be up 10% to 12%, while analysts expect 12% growth, on average.