APO Latest Report

Performance of the Current Report

Based on Apollo Global Management's (APO) financial data for fiscal 2024, the Company's total operating revenue as of December 31, 2024 was $5.283 billion, a year-on-year decrease of approximately 52.2% from $10.046 billion in 2023. This significant decline reflects the challenges faced by the Company in revenue generation, possibly related to changes in market environment, poor performance of investment portfolio, increased competition, and changes in cost structure.

Key Data from the Report

1. The Company's cumulative revenue for the first six months of fiscal 2024 was $13.058 billion, a year-on-year decrease of 31.28% [source](http://stock.10jqka.com.cn/usstock/20240809/c660644299.shtml).

2. The revenue in the second quarter of 2024 was $6.018 billion, a significant decrease from $13.702 billion in the same period of 2023, indicating a downward trend in revenue [source](http://stock.10jqka.com.cn/usstock/20240809/c660644299.shtml).

3. Apollo's net profit in the fourth quarter of 2024 was $1.18 billion, a 31% year-on-year increase, mainly benefiting from the growth in credit and insurance businesses due to the rise in interest rates [source](https://new.qq.com/rain/a/20240208A085NT00).

4. The Company's managed assets grew by 19% in 2024 to $651 billion, demonstrating success in credit investments [source](https://new.qq.com/rain/a/20240208A085NT00).

Peer Comparison

1. Industry-wide analysis: The overall market trend in the asset management industry is affected by changes in interest rates, market volatility, and client investment confidence. If other companies in the industry also report similar revenue declines, it may point to a general downturn in the industry; otherwise, it may be a unique issue for Apollo Global Management.

2. Peer evaluation analysis: Compared to other companies in the industry, Apollo Global Management's total operating revenue decreased by a larger percentage year-on-year, indicating possible shortcomings in market strategy or investment management capabilities. According to a report by Keefe, Bruyette & Woods, Apollo's operating revenue decreased by 20% year-on-year, while other companies like KKR and Blackstone Group performed relatively stably during the same period, further indicating a potential challenge to Apollo's market competitiveness [source](http://news.10jqka.com.cn/20250205/c665813304.shtml).

Summary

Apollo Global Management's total operating revenue in fiscal 2024 has decreased significantly, mainly due to changes in market environment, poor performance of investment portfolio, increased competition, and changes in cost structure. Although there was growth in credit and insurance businesses due to the rise in interest rates, the overall revenue decline trend remains significant, indicating the pressure faced by the Company.

Opportunities

1. The growth in credit and insurance businesses due to the rise in interest rates provides Apollo with further development opportunities.

2. The Company's growth in managed assets demonstrates success in credit investments, which can be further expanded in this area.

3. The global industrial revival may provide new opportunities for Apollo's investment portfolio, especially in fixed income [source](https://wallstreetcn.com/articles/3730374).

Risks

1. Uncertainty in the macroeconomic environment may continue to affect client investment willingness, thus negatively impacting revenue.

2. Increased competition may lead to further loss of market share, affecting the Company's long-term growth potential.

3. Fluctuations in investment portfolio performance may lead to a decrease in management fee income, further exacerbating revenue pressure.