Apollo Global Management Slips To Sharp Loss In Q1

(RTTNews) - Wednesday, Apollo Global Management, Inc. (APO) announced its first-quarter financial results, reporting a net loss attributable to common stockholders of $1,930 million, or $3.27 a share, compared with a net income of $418 million, or $0.68 a share, last year.

The loss was driven by a higher income tax provision and significant losses from its investment-related activities.

On an adjusted basis, net income amounted to $1,208 million, or $1.94 a share, compared to $1,119 million, or $1.82 a share, in the previous year.

Total revenues for the quarter declined to $5,059 million from last year's $5,548 million.

In the pre-market hours, APO is trading at $132.08, up 1.41 percent on the New York Stock Exchange.