It has been a roller coaster ride for Apollo Global Management (NYSE:APO) since I first wrote about them last February. The stock has been up and down throughout the intervening six months, but it sold off considerably after missing on EPS by $0.14 (Q2 EPS of $0.52 vs. $0.66 consensus) and on revenue by $52.6M (Q2 revenues of $572.15M vs. $624.75M). While revenues were up about 15% YOY, economic net income (or ENI) after taxes was actually down from $0.56 in the year earlier period and distributable earnings were well off the year earlier levels at $227.1M (vs. $603.9M) largely on the back of lower net realized carried interest. Management fees for the firm were actually up $16.4M...
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