Apollo Global's fourth-quarter profit tops estimates as assets soar

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Apollo Global's fourth-quarter profit tops estimates as assets soar

//business-finance.news-articles.net/content/202 .. uarter-profit-tops-estimates-as-assets-soar.html

Published in Business and Finance on Tuesday, February 4th 2025 at 8:00 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Apollo Global Management's fourth-quarter profit exceeded expectations, helped by a strong growth in fees and solid performance in its retirement business, sending shares of the company up 4% in premarket trading on Tuesday.

Apollo Global Management Inc reported a fourth-quarter profit that exceeded Wall Street expectations, driven by a significant increase in assets under management. The company's adjusted net income rose to $1.2 billion, or $1.91 per share, surpassing the average analyst estimate of $1.71 per share. This performance was bolstered by a 25% surge in assets under management to $650.8 billion, fueled by strong fundraising and market appreciation. Apollo also highlighted a 16% increase in fee-related earnings to $466 million, reflecting higher management fees from the expanded asset base. Despite these gains, the firm noted a slight decrease in its spread-related earnings due to lower earnings from Athene, its retirement services arm, although this was offset by growth in other areas of its business.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/apollo-globals-fourth-quarter-profit-tops-estimates-assets-surge-2025-02-04/ ]