Apollo Global Management swung to a third-quarter net loss attributable to common stockholders of $1.06 billion, or $1.78 per share, compared with net income of $1.71 billion, or $2.78 per share, a year earlier. The alternative asset manager cited investment-related losses as the primary driver behind the shift from profit to loss. Revenue and other details were not specified in the initial report.
The significant decline marks a stark contrast to the robust performance seen in the same period of the previous year, reflecting challenging conditions in the broader investment landscape.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing