Seeking Alpha

Investors sell the news after big Apollo earnings

  • Q3 economic net income of $1.34 per share flew by estimates for $0.93 and was 36.7% higher than a year ago. Total realized gains from carried interest of $639M were up from $230M a year ago.
  • Management business revenue of $203.2M up 10% Y/Y. Incentive business carried interest income of $950.2M gained 65.5%.
  • Private equity ENI of $538.8M nearly doubles from a year ago, with P-E funds generating an IRR of 18% during Q3.
  • Credit business ENI of $79.2M falls from $198.7M a year ago, thanks to a big decline in carried interest income.
  • Q3 cash distribution of $1.01 per share declared - $0.07 quarterly distribution and $0.94 from fund realizations, payable on November 29 to shareholders of record on Nov. 22.
  • The stock's up 122% Y/Y, but taking a breather today, APO -4.5%.
  • Press release.
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs