Apollo Global Management beats by $0.48, beats on revs
- Reports Q3 (Sep) earnings of $1.07 per share, excluding non-recurring items, $0.48 better than the Capital IQ Consensus of $0.59; revenues rose 31.1% year/year to $645.2 mln vs the $467.72 mln Capital IQ Consensus.
- "Apollo delivered excellent results for the third quarter driven by strong investment performance across all our businesses, led by the private equity funds we manage which appreciated by 7% in the quarter and 25% over the last twelve months," said Leon Black, Chairman and Chief Executive Officer. "By leveraging the power of Apollo's integrated global platform, we have generated capital inflows of $56 billion in the past year, bringing total assets under management to $242 billion, including nearly $100 billion of permanent capital."
- Apollo has declared a cash distribution of $0.39 per Class A share for the third quarter ended September 30, 2017. This distribution will be paid on November 30, 2017 to holders of record at the close of business on November 21, 2017.
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