SignalXSignalX

Apollo Global Management (APO) Q2 2023 10-Q Quarterly Report

Filed: Aug 7, 2023Period ending Jun 30, 2023
Financials
Investment AdviceSEC EDGAR
Apollo Global Management Overview

Apollo Global Management (APO) 10-Q quarterly report for Q2 2023, filed with SEC EDGAR on Aug 7, 2023 for the fiscal period ending Jun 30, 2023. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

Apollo Global Management Q2 2023 10-Q Analysis

Management Discussion & Analysis

  • • Revenue $1.0B Q2 2023, up $540M (112.5%) YoY; 6M revenue $2.3B, up $487M (27.4%) YoY, driven by investment income and management fees
  • • Operating margin (FRE margin) approx. 43.4% ($442.8M FRE on $1.02B revenue) Q2 2023 vs approx. 71.1% ($341.1M FRE on $480.3M revenue) Q2 2022; absolute FRE up 29.8% YoY
  • • Best segment: Asset Management Fee Related Earnings $442.8M Q2 2023 (+29.8% YoY); worst performing: Principal Investing Income $22.6M Q2 2023 down 15.4% YoY
  • • Cash: $1.2B unrestricted cash, $248.5M U.S. Treasury securities available; operating cash flow positive $287.7M 6M 2023 vs negative $1.37B prior year; financing cash outflows $1.29B driven primarily by debt repayments
  • • Outlook: Focus on growth in Fee Related Earnings via Fund X fees, Athene growth; monitoring market volatility and potential macro headwinds like inflation, interest rate hikes, geopolitical risks (Ukraine/Russia conflict)

Risk Factors

  • • No new or updated risk factors for Q2 2023 compared to 2022 Annual Report
  • • Legal and regulatory risks from 2022 persist, including compliance with SEC regulations and potential litigation
  • • Market and operational risks include fluctuations in asset valuations and competitive fund-raising environment
  • • Financial risks focus on liquidity management and exposure to credit market conditions
  • • Concentration risks remain related to investments and client base diversity

Apollo Global Management Q2 2023 Quarterly Financials
XBRL

Revenue

$1.0B

▲ +112.5% YoY▼ -17.9% QoQ

Net Income

$113M

▲ +65.6% YoY▼ -48.1% QoQ

Net Margin

11.1%

▼ -313bp YoY▼ -643bp QoQ

Source: XBRL data from Apollo Global Management Q2 2023 10-Q filing on SEC EDGAR. All figures in USD.

Get deeper insights on Apollo Global Management

Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.