Apollo Global Management LLC (APO) Beats Q3 EPS Estimates

Apollo Global Management LLC (NYSE:APO) reported its earnings for the three months through September this morning before the market opened on Wall Street. The fund manager showed earnings per share of $1.34 for the third quarter of the year. Revenue came in at $1.15 billion. The firm’s shares rose by more than 1% on this morning’s pre-market trading.

Apollo Global

In the run-up to the release of this morning’s earnings report analysts were expecting earnings to be good, but not as good as Apollo Global Management LLC (NYSE:APO) showed. 15 analysts surveyed by Bloomberg were looking for earnings per share of $0.94 for the firm by consensus. The same analysts were looking for consensus revenues of $627 million.

Apollo Global earnings

In the same three months of last year Apollo Global Management LLC (NYSE:APO) showed earnings per share of 98 cents on revenue totaling $712 million. The company has beat Wall Street’s expectations for both revenue and earnings in five out of the last six quarters, while earnings came in flat in the second quarter of 2013.

In this morning’s report Apollo Global Management LLC (NYSE:APO) showed that Assets Under Management grew to $112.7 billion at the end of the quarter. The number increased by $3 billion since September 30 2012. Apollo is in the midst of raising money for its eighth buyout fund. The firm has been active in selling off some of its large holdings as the market has risen through 2013.

Apollo Global performance

Apollo Global Management LLC (NYSE:APO) shares have only been on the public market since 2011, but the firm’s excellent investment performance has buoyed the company’s value. Stock has grown in value by about 90% since 2013 began. The gains are owed to a rising market and an appetite for selling at Apollo.

Apollo has performed exceptionally well in 2013, but a rallying market is an easy place for investment firms to make money. If there is a crisis ahead in the next year the company will be able to show its true mettle in the face of a less than buoyant market.