Reported 2 months ago
Apollo Global Management Inc. fell short of Wall Street expectations in its second-quarter results, as the company reported a slight year-on-year decrease in adjusted net income despite a 17% rise in fee-related earnings. The decline in profits at its Athene annuities unit, which dropped 11% to $710 million largely due to falling income from alternative investments, impacted overall results. However, Apollo invested $70 billion during the quarter, significantly up from the previous year, demonstrating robust capital deployment and fundraising efforts.
Source: YAHOO