Lehman Brothers earned its third best net revenues ever for a single quarter as capital markets activities allowed it to buck the doom and gloom that pervades other markets.

Net revenues were $2bn (€2.3bn), an increase of 15% from the $1.75bn reported at this time last year. The firm reported net income in the fiscal 2001 quarter of $430m, an increase of 14% from the $378m in the same quarter last year.