Apollo Global Management (APO) Tops Q2 EPS by 27c, Revenues Beat

Apollo Global Management (NYSE: APO) reported Q2 EPS of $0.75, $0.27 better than the analyst estimate of $0.48. Revenue for the quarter came in at $626.58 million versus the consensus estimate of $501.6 million.

Link to 2Q Earnings Release

“Despite a continued volatile market backdrop during the second quarter, Apollo once again delivered strong growth for our investors, reinforcing the value of our integrated global investment platform,” said Leon Black, Founder, Chairman and Chief Executive Officer. “Following the completion of two significant transactions which reflect our continued leadership in insurance solutions, combined with other inflows and market appreciation, Apollo’s total assets under management grew by nearly $100 billion during the second quarter and have surpassed $400 billion for the first time in our history. Over the last twelve months, Apollo’s total AUM has grown by 33% to reach $414 billion as of June 30, 60% of which is in permanent capital vehicles.”

“Against a challenging and volatile backdrop, we have demonstrated the tenacity and resilience of our team as well as the durability of our FRE growth and stability of our margins,” said Josh Harris, Co-Founder. “I am proud of what our organization has accomplished this quarter, including investing over $45 billion across our platform and the addition of our stock to the Russell 1000 and MSCI Global indices. As one of the world’s leading institutional investment managers, we are committed to enhancing the liquidity and accessibility of our stock and believe this is a great next step toward the realization of that continued pledge to our current and future shareholders.”

For earnings history and earnings-related data on Apollo Global Management (APO) click here.

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