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Why Apollo Global Is Soaring This Week

TheMotleyFool

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Asset manager Apollo Global Management (NYSE: APO) is up 7% in the last week due to quarterly results it reported Tuesday that exceeded Wall Street's estimates.

Fee-related earnings -- an important measure of an asset management firm's core profitability -- soared 23% in the quarter, to $652 million. That was about 4% higher than Wall Street's forecast of $626.5 million.

And adjusted net income of $1.35 billion, or $2.17 a share, was 14% higher than the $1.90 consensus estimate.

Source Fool.com

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