Apollo Global Management, Inc. earnings overview

APO FY2026 Q1 · Calendar Q2 2026

Apollo Global Management, Inc.

Apollo delivered record Q1 fee-related earnings of 728 million, beating EPS estimates (1.94 actual vs 1.89 consensus, 2.6% surprise) while revenue slightly missed (5.06B vs 5.19B, 2.5% shortfall). Management reaffirmed 2026 targets of 20% FRE and 10% SRE growth. The quarter featured strong origination (71B in Q1, 97B target), daily pricing and market-making initiatives, and Athene 40B cash position. The stock underperformed its benchmark by roughly 2.0% on the report session with -0.9% subsequent drift. Analyst concerns center on origination durability spread compression and regulatory headwinds though management tone was confident.