Apollo Global Management Q4 Earnings Top Estimates

(RTTNews) - Apollo Global Management, Inc. (APO) Thursday posted a profit of $2.861 billion or $4.65 per share for the fourth quarter, significantly higher than $640 million or $1.06 per share in the same quarter a year ago, mainly driven by growth in Retirement Services.

Retirement services premiums grew to $3.586 billion from $869 million last year.

Adjusted income, excluding notable items, was $1.182 billion or $1.91 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $1.72 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $11.046 billion from $4.841 billion last year. The Street was expecting revenue of $3.62 billion.

Total Assets Under Management (AUM) increased 19 percent year-over-year to $651 million.