Stock rises in premarket after beating analyst expectations
- Apollo Global Management stock rises 2.7% in premarket trading
- Swings to a third-quarter profit of $660 million
- Beats analyst target for total asset management fee related revenue
- Normalized adjusted profit of $1.72 a share falls short of consensus estimate
- Revenue falls to $2.6 billion from just under $3 billion in the year-ago period
- Total asset management fee related revenue rises to $834 million in the third quarter
Apollo Global Management Inc. reported a third-quarter profit of $660 million, swinging from a year-ago loss. The company’s stock rose 2.7% in premarket trading after beating the analyst target for total asset management fee related revenue. However, the normalized adjusted profit of $1.72 a share fell slightly short of the consensus estimate. Revenue for the quarter fell to $2.6 billion from just under $3 billion in the year-ago period. On a positive note, total asset management fee related revenue rose to $834 million, surpassing the analyst consensus estimate of $805 million.
Factuality Level: 8
Factuality Justification: The article provides specific financial information about Apollo Global Management Inc.’s stock performance and third-quarter profit. The information is based on the company’s official report and includes comparisons to analyst estimates. However, the article does not provide any additional context or analysis, making it somewhat limited in terms of depth and perspective.
Noise Level: 7
Noise Justification: The article provides relevant information about Apollo Global Management Inc.’s stock performance and financial results. It includes specific figures and compares them to analyst estimates. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article stays on topic and supports its claims with data and examples, but it does not explore long-term trends or antifragility. Overall, the article contains some noise and filler content, but it provides basic information for investors.
Financial Relevance: Yes
Financial Markets Impacted: Apollo Global Management Inc.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the financial performance of Apollo Global Management Inc. The company’s stock rose in premarket trading after reporting a third-quarter profit and beating analyst expectations for total asset management fee related revenue.
Public Companies: Apollo Global Management Inc. (APO)
Key People:
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