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Apollo Global Management, LLC APO has reported first-quarter 2025 adjusted net income per share of $1.82, which missed the Zacks Consensus Estimate of $1.85. However, the reported figure compared favorably with the adjusted net income of $1.72 in the year-ago period.
Results were primarily affected by a rise in expenses. Nonetheless, an increased assets under management (AUM) balance acted as a tailwind in the quarter.
GAAP net income attributable to Apollo Global was $418 million, which declined from $1.4 billion in the prior-year quarter.
APO’s Quarterly Revenues & Expenses Rise
Total revenues were $978 million, up 16.6% year over year. Also, it topped the Zacks Consensus Estimate by 1.7%.
Total expenses for combined segments rose 1.9% year over year to $160 million in the reported quarter.
Apollo Global’s AUM Balance Rises
Fee-earnings AUM increased 17.6% on a year-over-year basis to $595 billion. The rise was driven by strong growth in fee-related revenues and measured expense growth.
As of March 31, 2025, total AUM was $785 billion, up 16.9% on a year-over-year basis. Total AUM benefited from $80 billion of inflows from Asset Management and $77 billion of gross inflows from Retirement Services, partially offset by $57 billion of outflows, driven by normal course activity at Athene and $19 billion of realization activity.
APO’s Capital & Liquidity Position Weak
As of March 31, 2025, Apollo Global had $1.9 billion of cash and cash equivalents and $4.3 billion of debt.
Apollo Global’s Capital Distribution Update
The company declared a quarterly cash distribution of 51 cents per share, along with the earnings release. This dividend will be paid out on May 30, 2025, to shareholders of record as of May 16.
Our Viewpoint on APO
Apollo Global’s decent organic growth and increasing AUM balance look encouraging. The company’s first-quarter results reflect broad-based momentum across the platform. Its quarterly origination volume was robust, driven by a diverse array of investing activity across debt origination platforms, core credit, high-grade capital solutions, and equity origination. In February, APO announced a deal to acquire Bridge Investment Group, which is expected to close in the third quarter of 2025. This impending acquisition aligns with the company's objective to expand its real estate expertise and strengthen its wealth business, supporting its financials.
Apollo Global Management Inc. Price, Consensus and EPS Surprise
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