U.S. Markets closed

Apollo Commerical Finance posts 4Q profit

NEW YORK (AP) _ Apollo Commercial Real Estate Finance (ARI) on Monday reported fourth-quarter net income of $59 million.

On a per-share basis, the New York-based company said it had net income of 60 cents. Earnings, adjusted for one-time gains and costs, were 49 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The real estate investment trust posted revenue of $53.6 million in the period.

For the year, the company reported profit of $157.9 million, or $1.74 per share. Revenue was reported as $200.6 million.

Apollo Commerical Finance shares have risen 8 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.98, an increase of 6 percent in the last 12 months.

_____

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

_____

Keywords: Apollo Commerical Finance, Earnings Report