Apollo Global Management (NYSE:APO) stock rose 1.89% (As on February 10, 11:17:54 AM UTC-4, Source: Google Finance) after the company reported fourth quarter earnings that significantly exceeded analyst expectations. The strong quarterly performance demonstrates Apollo’s continued growth trajectory in the alternative asset management space, particularly in its origination capabilities and ability to attract significant capital inflows. The company reported that its assets under management reached approximately $938 billion as of December 31, 2025, which is a growth of 25% year over year. Throughout the year, Apollo positioned itself at the forefront of several key financial trends, including financing industrial growth, advancing retirement solutions, and expanding access to private markets. For the full year, we generated record combined fee-related earnings and spread-related earnings of $5.9 billion, which drove adjusted net income of $5.2 billion, up 14% year over year, or $8.38 per share.

Moreover, in the year, the company delivered 22% growth in management fees with underlying strength driven by increasing contribution from third-party asset management inflows into both credit and equity strategies, as well as strong capital deployment and robust growth at Athene. Capital solutions fees of $226 million reached a new high in the fourth quarter and drove the full-year result to exceed $800 million. In the fourth quarter, growth in fee-related expenses was driven by several factors, including the full-quarter impact of Bridge, continued investment in our team with key senior hires, including our new Heads of Strategy and Asia, as well as infrastructure investment, particularly on next-generation technology platforms, data, and AI initiatives, and further normal course fourth-quarter seasonality and some non-recurring non-comp costs. Moving to retirement services, Athene’s net invested assets grew by 18% year over year to $292 billion. The company generated $865 million of SRE for the quarter, with an additional $28 million at our long-term 11% return expectation on the alternatives portfolio.

APO in the fourth quarter of FY25 has reported the adjusted earnings per share of $2.47, beating the analysts’ estimates for the adjusted earnings per share by 43 cents. The company had reported the adjusted revenue growth of  percent to $9.86 billion in the fourth quarter of FY25, beating the analysts’ estimates for revenue of $5.3 billion.

Additionally, Apollo declared a quarterly cash dividend of $0.51 per share of common stock, to be paid on February 27, 2026, to shareholders of record as of February 19, 2026. The company also announced a cash dividend of $0.8438 per share of its Mandatory Convertible Preferred Stock.