---
title: "奥本海默表示，Apollo Global 第四季度的业绩超预期是由业绩收入推动的"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/275507264.md"
description: "根据 Oppenheimer 的报告，Apollo Global Management 第四季度的调整后净收入超出预期，主要得益于强劲的业绩收入和有利的税率。由于运营成本上升，费用相关收益略低于预期，而利差相关收益则超出预期。该公司指出，管理资产同比增长 20%，并强调了战略机会，包括一个 60 亿美元的体育资本基金。Oppenheimer 对 Apollo 维持 “表现” 评级，认为其相对于同行而言略显低估"
datetime: "2026-02-10T20:11:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/275507264.md)
  - [en](https://longbridge.com/en/news/275507264.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/275507264.md)
---

# 奥本海默表示，Apollo Global 第四季度的业绩超预期是由业绩收入推动的

03:11 PM EST, 02/10/2026 (MT Newswires) -- Apollo Global Management's ( APO ) Q4 adjusted net income beat expectations, driven roughly equally by stronger-than-expected performance income and a favorable tax rate, Oppenheimer said in a Tuesday note.

The brokerage noted that fee-related earnings of $1.11 per share were slightly below Oppenheimer's forecast due to higher operating costs, while base management fees were in line with expectations.

Spread-related earnings of $865 million modestly exceeded Oppenheimer's estimate and were roughly flat quarter over quarter. Apollo's $24 billion cash and Treasury buffer weighed on near-term earnings but positions the company to capitalize on potential market dislocations.

Oppenheimer highlighted that fee-related earnings and carry continue to grow their share of total earnings, with fee-related earnings up 21.4% year over year and 23.3% for the quarter.

The brokerage highlighted 20% year-over-year growth in assets under management excluding the Bridge acquisition. The firm also highlighted strategic opportunities, including Apollo's about $6 billion sports capital fund, which could drive future origination and fee income.

Oppenheimer views Apollo as only moderately undervalued relative to peers and has a perform rating on the stock.

Price: 133.29, Change: -0.66, Percent Change: -0.49

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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