Apollo Global Management reports better than 2012 earnings for 2013 third quarter
Apollo Global Management LLC had announced its third quarter results ending September 30, 2013. The firm reported ENI after taxes to be worth USD528.6 million compared to 2012's USD379 million for the same period.
US GAAP results for the firm for the third quarter ending September 30, 2013 included the net income of USD192.5 million or about USD1.13 per Class A share. For the previous year, in the same period, the net income was at USD82.8 million or at USD0.55 per Class A share.
According to Apollo Global Management Chairman and CEO Leon Black, "Apollo delivered strong results in the third quarter of 2013 driven by solid gains across our investment portfolio. Our value-oriented, opportunistic and flexible approach to investing has produced a steady stream of realizations and yielded USD3.95 of cash per share for our shareholders during the past four quarters. In addition, we have raised nearly USD14 billion of new capital across the firm in the past four quarters, positioning us to capitalize on attractive investment opportunities as they present themselves."