NEW YORK (AP) _ Apollo Commercial Real Estate Finance (ARI) on Thursday reported second-quarter earnings of $60.2 million.
On a per-share basis, the New York-based company said it had net income of 36 cents. Earnings, adjusted for one-time gains and costs, were 38 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The real estate investment trust posted revenue of $70.8 million in the period.
Apollo Commerical Finance shares have fallen 49% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.31, a fall of 50% in the last 12 months.