Apollo Global Management Misses Analysts’ Estimates
Apollo Global Management (APO) witnessed gross inflow of $36 billion in 2Q17, helped by the company’s credit and private equity divisions. Its Fund IX saw significant demand in the private equity market and the company has a positive outlook for it. Apollo posted EPS (earnings per share) of $0.46, missing analysts’ estimate of $0.49. The company reported revenue of $432.9 million in 2Q17, missing analysts’ estimate of $445.3 million. Apollo managed to post economic net income of $183.5 million.
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In 2Q17, Apollo’s total AUM (assets under management) stood at $231.8 billion, with fee-generating assets under management of $161 billion. The company currently has carry-generating assets under management and dry powder strength amounting to $51.8 billion and $49.3 billion, respectively. In 2Q17, the company made deployments of $2.6 billion.
In 2Q17, alternative asset manager (XLF) peers’ AUM were as follows:
- KKR (KKR): $148.4 billion
- The Carlyle Group (CG): $169.8 billion
- The Blackstone Group (BX): $371.1 billion
In this series, we’ll study the performance of Apollo’s various divisions, its dividend distribution, and its valuation. We’ll also look into Apollo’s AUM and analysts’ ratings. Let’s first have a look at Apollo’s private equity division.