Apollo Global Management LLC (APO) reported that its net income attributable to the company for the third quarter plunged to $2.2 million from $192.5 million in the comparable quarter last year. For the latest third quarter, the company reported loss of $0.05 per Class A share, compared to earnings of $1.13 per Class A share last year.
The net loss per Class A share during the current quarter is a result of undistributed GAAP losses in excess of distributions paid to Class A shareholders during the quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.38 per share. Analysts' estimates typically exclude special items.
Total revenues for the quarter plummeted to $221.14 million from $1.13 billion in the prior year period, while four analysts expected revenues of $394.57 million for the quarter.
Apollo Global Management, LLC has declared a third quarter 2014 cash distribution of $0.73 per Class A share. This distribution will be paid on November 21, 2014 to holders of record at the close of business on November 14, 2014.
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