Apollo Global Q3 Earnings Beat Estimates, AUM Increase Y/Y

Apollo Global Management, LLC’s APO third-quarter 2025 adjusted net income per share of $2.17 surpassed the Zacks Consensus Estimate of $1.77. Further, the reported figure compared favorably with the year-ago adjusted net income of $1.85.

Results were primarily aided by an increased assets under management (AUM) balance. The acquisition of Bride Investment Holdings provides Apollo Global with immediate scale in real estate equity and enhances its origination capabilities across secular growth areas. However, rising expenses acted as headwinds in the quarter. 

The results include certain items. After considering those, net income attributable to Apollo Global (GAAP basis) was $1.71 billion, which surged from $787 million in the prior-year quarter.

APO’s Quarterly Revenues & Expenses Rise

Total revenues were $1.1 billion, up 23.9% year over year. Also, it topped the Zacks Consensus Estimate by 4.6%.

Total expenses for combined segments rose 22.3% year over year to $192 million in the reported quarter.

Apollo Global’s AUM Balance Rises

Fee-earnings AUM increased 24.3% on a year-over-year basis to $685 billion. The rise was driven by strong management fee growth and record capital solutions fees. Asset Management contributed $98 billion in inflows, driven by fundraising across institutional and global wealth channels, as well as $21 billion related to the acquisition of Bridge Investment Holdings, while Retirement Services contributed $84 billion to gross inflows, driven by robust organic growth.

As of Sept. 30, 2025, total AUM was $908 billion, up 23.9% on a year-over-year basis. Total AUM benefited from $136 billion in inflows from Asset Management and $84 billion in gross inflows from Retirement Services, partially offset by $61 billion in outflows, driven by normal course activity at Athene and $21 billion from realization activity.

APO’s Capital & Liquidity Position Weak

As of Sept. 30, 2025, Apollo Global had cash and cash equivalents of $2.8 billion, and debt of $4.8 billion.

Apollo Global’s Capital Distribution Update

The company announced a quarterly cash distribution of 51 cents per share with its earnings release. This dividend will be paid out on Nov. 28, 2025, to shareholders of record as of Nov. 17.

Our Viewpoint on APO

Apollo Global’s decent organic growth and increasing AUM balance look encouraging. The company’s third-quarter results reflect broad-based momentum across the platform. Its quarterly origination volume was robust, driven by a diverse array of investing activity across debt origination platforms, core credit, high-grade capital solutions and equity origination. The acquisition of Bridge Investment Group Holdings Inc. expands Apollo's real estate expertise and strengthens its wealth business, supporting its financials.

Apollo Global Management Inc. Price, Consensus and EPS Surprise

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

Currently, Apollo Global carries a Zacks Rank #4 (Sell).

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

Performance of APO’s Peers

T. Rowe Price Group, Inc.’s TROW third-quarter 2025 adjusted earnings per share of $2.81 beat the Zacks Consensus Estimate of $2.55. Moreover, the bottom line increased 9.3% year over year.

TROW's results benefited from a rise in investment advisory fees and capital allocation-based income. Also, higher assets under management were another positive. However, higher expenses acted as a spoilsport.

Invesco’s IVZ third-quarter 2025 adjusted earnings of 61 cents per share surpassed the Zacks Consensus Estimate of 45 cents. The bottom line increased 38.6% from the prior-year quarter.

IVZ’s results have been primarily aided by an increase in adjusted revenues. Moreover, record growth in the AUM balance supported the results to an extent. However, an increase in adjusted operating expenses acted as a headwind.

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

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