Apollo Global Management Slips To Loss In Q2

Apollo Global Management Inc. (APO) reported Thursday first-quarter net loss attributable to the company of $870 million or $1.50 per share, compared to net income of $679 million or $2.81 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.52 per share, compared to $0.66 per share in the year-ago quarter. Adjusted earnings - normalized - were $1.28 per share.

Total revenue for the quarter plunged to $875 million from $2.30 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.03 per share on revenues of $903 million for the quarter. Analysts' estimates typically exclude special items.

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