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Apollo Commerical Finance: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

NEW YORK (AP) _ Apollo Commercial Real Estate Finance (ARI) on Thursday reported a first-quarter loss of $127.8 million, after reporting a profit in the same period a year earlier.

The New York-based company said it had a loss of 86 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 40 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The real estate investment trust posted revenue of $74.7 million in the period.

Apollo Commerical Finance shares have dropped 56% since the beginning of the year. The stock has decreased 58% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARI at https://www.zacks.com/ap/ARI