Apollo Global Management Posts Economic Net Loss In Q4

(RTTNews) - Apollo Global Management, LLC (APO) reported a fourth-quarter economic net loss per share of $1.01 compared to profit of $1.22 per share, previous year. On average, 11 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.74 for the quarter. Analysts' estimates typically exclude special items. Fee related earnings were $255.6 million or $0.62 per share, for the quarter.

Fourth-quarter net loss to Class A Share was $1.00 compared to profit of $0.92 per share, prior year. Net loss to Apollo Global Management, LLC Class A Shareholders was $196.41 million compared to profit of $184.89 million, last year.

Apollo has declared a cash distribution of $0.56 per Class A share for the fourth quarter ended December 31, 2018. The distribution will be paid on February 28, 2019 to holders of record at the close of business on February 21, 2019.

"Despite a volatile market backdrop during the fourth quarter, Apollo generated fee-related earnings of $0.62 per share for the quarter and $1.87 per share for the year, an increase of 22% year-over-year reflecting the growing earnings power of our business. In addition, we have attracted capital inflows of $60 billion over the last twelve months, bringing total assets under management to $280 billion, including nearly $140 billion of permanent capital," said Leon Black, CEO.