Apollo Q2 2026: record fees, $1.36B profit, EPS misses consensus
Apollo earned $1.36 billion of net income, or $2.15 per diluted share, on $11.15 billion of revenue in the June 2026 quarter, but Adjusted Net Income of $2.11 per share came in below the $2.20 consensus. Revenue looks spectacular mostly because of mark-to-market swings at the insurance arm. Read the recurring lines — fee related earnings and spread related earnings — for the real picture.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $2.15, up from $0.99 a year ago, while Adjusted Net Income per share, Apollo's preferred measure, was $2.11 versus $1.92. The consensus estimate was $2.20, so both lines landed short by roughly 2.1% and 3.9% respectively. The good news buried in the comparison: the $1.7 billion one-time Bermuda tax charge that wrecked the first quarter is no longer in the numbers.
Revenue jumped 63.7% to $11.15 billion from $6.81 billion a year ago, but $2.99 billion of that was investment related gains at Retirement Services and $5.35 billion was net investment income — both swing with markets. The steadier number is fee related revenue of $1.34 billion, up 22.6% year over year.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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