Apollo Set to Report Q3 Earnings: What's in the Cards for the Stock?

Apollo Global Management, Inc. APO is scheduled to announce third-quarter 2025 results on Nov. 4, before market open. APO’s quarterly earnings and revenues are expected to have increased from the year-ago reported levels.

In the last reported quarter, Apollo’s earnings topped the Zacks Consensus Estimate. Results were primarily aided by an increased asset under management (AUM) balance. However, rising expenses acted as a headwind in the quarter.

APO’s earnings beat the consensus estimate in three of the trailing four quarters and missed once, the average positive earnings surprise being 5.91%.

Apollo Global Management Inc. Price and EPS Surprise

Apollo Global Management Inc. price-eps-surprise | Apollo Global Management Inc. Quote

The Zacks Consensus Estimate for APO’s earnings of $1.89 has been revised upward over the past seven days. The figure indicates a rise of 4.4% from the year-ago quarter’s actual.

The consensus estimate for sales is pegged at $1.1 billion, suggesting a year-over-year rise of 18.6%.

Apollo’s Key Developments in Q3

In September 2025, APO completed the acquisition of Bridge Investment Group Holdings Inc. The all-stock transaction, valued at $1.5 billion, was announced in February 2025.

The acquisition provides Apollo with immediate scale in real estate equity and enhances its origination capabilities across secular growth areas. Notably, the transaction is expected to be accretive to Apollo’s fee-related earnings and nearly doubles its real estate assets under management to more than $110 billion. Bridge’s integration will further strengthen Apollo’s hybrid and equity offerings, particularly for institutional and wealth clients.

Key Factors & Estimates for APO in Q3

Supported by overall asset inflows on the back of volatile markets, the company’s total AUM balance is expected to have improved. Also, its diversified asset classes, client bases and geographies are likely to have supported AUM growth in the quarter to be reported.

The Zacks Consensus Estimate for the company’s total AUM in the third quarter of 2025 is pegged at $884.2 billion, which suggests a sequential rise of 5.3%.

The consensus estimate for management fees (segment earnings) is pegged at $858 million, indicating a sequential rise of 5.1%.

In the third quarter of 2025, the consensus estimate for fee-related performance fees (segment earnings) is pegged at $61.1 million, indicating a decline of 3.1% from the previous quarter’s reported number.

The consensus estimate for net capital solutions fees and other (segment earnings) is pinned at $181.2 million, indicating a sequential decline of 16%.

On the cost front, the company’s ongoing investments in building its capital formation and credit investing teams, along with charges related to mergers, are likely to have kept the expense base elevated in the third quarter.

What Our Model Predicts for APO

Per our proven model, the chances of Apollo beating estimates this time are low. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you can see below.

You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Earnings ESP: Apollo has an Earnings ESP of -0.48%.

Zacks Rank: APO currently has a Zacks Rank of 3.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Performance of Other Asset Managers

Blackstone’s BX third-quarter 2025 distributable earnings of $1.52 per share surpassed the Zacks Consensus Estimate of $1.22. The figure soared 50% from the prior-year quarter.

BX’s results benefited from higher segment revenues and a rise in assets under management. Further, a decrease in GAAP expenses was a positive.

Lazard Inc.’s LAZ third-quarter 2025 adjusted earnings per share of 56 cents beat the Zacks Consensus Estimate of 41 cents. This compared favorably with earnings of 38 cents per share in the year-ago quarter.

LAZ’s results were positively impacted by increases in revenues in the financial advisory and asset management, and corporate sectors. A rise in the assets under management balance was another positive. However, elevated operating expenses acted as spoilsports.

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This article originally published on Zacks Investment Research (zacks.com).

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