Apollo Commerical Finance: Q2 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Apollo Commercial Real Estate Finance (ARI) on Monday reported a second-quarter loss of $83.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of 62 cents. Losses, adjusted for non-recurring costs and stock option expense, were 11 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The real estate investment trust posted revenue of $92.2 million in the period. Its adjusted revenue was $63 million.
Apollo Commerical Finance shares have climbed roughly 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $11.80, a decrease of nearly 8% 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
