earnings preview

Some of the world’s most important investment firms announced their earnings this morning. Here’s a summary of how they did.

Apollo Global Management LLC (NYSE:APO) beat the prevailing trend in investment firms increasing its profits by 23% year on year. The firm reported profits of $462 million on revenue of $776.7 million in the first quarter. The most surprising aspect of today’s report was the increase in income from fees the company managed to earn in the first quarter. Most of the investment firms reported fees were down in the first quarter of the year. The firm will be happy with the results. In the fourth quarter of 2011 the company saw a year on year drop of 61% in profits. The firm’s stock was up this morning by almost 6% to 12.91 on news of the earnings.

Calamos Asset Management Inc. (NASDAQ:CLMS) offered a less positive earnings report this morning. The company showed earnings down year on year on declining revenues. Income was $6.3 million for the quarter compared to $7.1 million in the year before. Revenue for the first quarter was down from last year’s $90.5 million to $85.3 million. The diversified investment firm is following the trend in the investment market that few can break out of. Investors are demanding lower fees and returns from investments aren’t patching the gap for most companies. The firm’s stock was down slightly today on the news. the company was trading at around 12.52 down close to 1.5% on yesterday’s close.

HSBC Holdings Plc (LON:HSBA) announced its earnings this morning and demonstrated to the world and its shareholders what a vibrant and growing financial institution looks like. The company reported profits up to $6.8 billion for the first quarter of the year. The company earned $5.4 billion in the same period of last year leaving an increase of 26%. The firm’s revenue was slightly down due, according to the firm’s press release, to adverse movements in the value of the firm’s debt. The company’s revenue for the first quarter of 2012 was $16.2 billion in total. The firm suggests it owes much of its success to the commercial and global banking environments. Investments at HSBC didn’t post much better results than anywhere else. The firm’s London Stock was undecided on the news trading down less than 1% as the market there was ready to finish for the day. The company’s stock sits at 551.1 on that index.