Apollo Global Management Inc - Class A (New)

Apollo Global Management delivered a tale of two bottom lines in Q1 2026, posting adjusted earnings per share of $1.94 while revenue of $5.06 billion slipped 3.0% year-over-year, as a staggering $1.70 billion one-time tax charge tied to the revocation of ACRA's Bermuda corporate income tax election triggered a GAAP net loss of $1.93 billion, or $3.27 per diluted share. Strip away that accounting distortion, however, and the operational picture looked considerably stronger: the Asset Management segment generated record fee-related earnings of $728 million, up 30% year-over-year, anchored by a 24% rise in management fees to $952 million and a 60% surge in capital solutions fees to $246 million. Total assets under management crossed $1.03 trillion, a 31% increase, powered by record quarterly inflows of $115 billion. Apollo also moved aggressively on capital return, repurchasing $866 million in shares during the quarter, even as a pending securities class action lawsuit alleging misleading statements tied to the Jeffrey Epstein controversy continues to shadow the firm's public profile.