Apollo Global Management (NYSE: APO) reported Q3 ENI of $0.83, $0.09 worse than the analyst estimate of $0.92.

“Apollo’s financial results for the third quarter of 2018 were driven by solid investment performance across each of our businesses, which underscores the strength of our integrated global investment platform,” said Leon Black, Chairman and Chief Executive Officer. “Apollo’s third quarter Fee-Related Earnings of $0.48 per share, which is the key foundational component of our quarterly cash distribution, grew by 20% year-over-year, and is bolstered by a large base of long-dated and permanent capital.”

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