Apollo Global Management, LLC (APO) reported a surge in first-quarter GAAP net income attributable to the company to $249.0 million, or $1.59 per Class A share, from last year's $98.0 million, or $0.66 per Class A share. Total economic net income or "ENI" of $792 million for the period, was up by 72% from $462 million a year ago, with ENI after taxes per share amounting to $1.89 for the first quarter ended March 31, 2013. On average, 10 analysts polled by Thomson Reuters expected earnings per share of $1.24 for the quarter. Analysts' estimates typically exclude one-time items.
The company clocked total revenues of $1.31 billion, higher than the prior year's $776.74 million. Analysts estimated revenues of $976.68 million for the quarter. As of March 31, 2013, Apollo's total AUM was $114.3 billion, up 33%, compared with $86.1 billion as of March 31, 2012, chiefly driven by both organic and strategic growth in the credit segment.
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