Asset manager Apollo Global Management reports a sharp decline in revenue and swings to a loss in the third quarter of 2026. Both revenue and adjusted earnings per share came in below analysts’ expectations.
Revenue fell 52 percent to 4.74 billion dollars (9.82). The outcome was 18.1 percent below the analyst consensus from Factset of 5.79 billion dollars.
Net result amounted to -1.06 billion dollars (1.71). The result was weighed down by investment-related losses of 3.42 billion dollars within the retirement and insurance businesses.
Adjusted net result amounted to 1.29 billion dollars. Adjusted earnings per share were 2.07 dollars. Excluding special items, adjusted earnings per share amounted to 2.15 dollars, which was 1.8 percent below consensus of 2.19 dollars.
Fee-related earnings increased to 802 million dollars (652).
Assets under management increased to 1,074 billion dollars, with net inflows of 53 billion dollars during the quarter.
CEO Marc Rowan highlights record-sized deal pipelines and growing underlying earnings, with expectations of a strong finish to 2026 and favorable conditions heading into 2027.
Key figures, USD billionQ3 2026ConsensusDeviationQ3 2025ChangeRevenue4.745.79−18.1%9.82−52%Adjusted earnings per share, dollars2.152.19−1.8%––
