Apollo Commerical Finance: 3Q Earnings Snapshot
NEW YORK (AP) _ Apollo Commercial Real Estate Finance (ARI) on Wednesday reported third-quarter earnings of $29.1 million.
The New York-based company said it had profit of 16 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 47 cents per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 47 cents per share.
The real estate investment trust posted revenue of $85.2 million in the period.
Apollo Commerical Finance shares have increased 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.96, a rise of slightly more than 2% in the last 12 months.