Apollo Global Q4 Beat Driven by Performance Income, Oppenheimer Says
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Apollo Global Management's Q4 adjusted net income surpassed expectations, driven by strong performance income and a favorable tax rate, according to Oppenheimer. Fee-related earnings were slightly below forecasts due to higher operating costs, while spread-related earnings exceeded estimates. The firm noted a 20% year-over-year growth in assets under management and highlighted strategic opportunities, including a $6 billion sports capital fund. Oppenheimer maintains a perform rating on Apollo, viewing it as moderately undervalued relative to peers.
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