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AI compiled from Infoway · 3 analyzed stories

Apollo Global Management, Inc. reports results for the quarter ended September 30 - Earnings Summary

Apollo Global Management reported quarterly adjusted earnings of $2.07 per share, below last year's $2.17 and the $2.20 analyst average. Revenue fell 51.8% to $4.74 billion versus an expected $5.81 billion, and the company posted a quarterly loss of $1.06 billion, or $1.78 per share.

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What happened

Apollo Global Management reported a third-quarter loss of $1.06 billion, compared with income of $1.71 billion a year earlier. Revenue fell 52% to $4.74 billion. The company also reported adjusted earnings of $2.07 per share, below last year and the analyst average.

Global impact / market context

The reported loss and lower revenue may concern ordinary investors because they show weaker results for the quarter. The supplied information links part of the loss to investment-related losses at its retirement-services unit amid higher interest rates.

What to watch

  1. Check the next reported results to see whether the loss continues; this matters because the latest quarter showed a large change from a year earlier.
  2. Check revenue in the next results; it fell to $4.74 billion, below the stated $5.81 billion expectation.
  3. Check whether the company reports further investment-related losses at its retirement-services unit; these were linked to higher interest rates in this quarter.

Affected assets

  • Apollo Global Management, Inc.

Evidence