Filing Flows › Apollo Global Management (APO) › Q1 2026
Apollo Global Management (APO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Apollo Global Management (APO) reported revenue of $5.1B for the first quarter 2026 (Q1 2026), -9% from a year earlier and -49% from the quarter before. Operating margin was 5.6%, net loss $1.4B (27.9% of revenue).
Apollo Global Management, Q1 2026: revenue $5.1B (-9% year over year), operating margin 5.6%, net loss $1.4B, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.1B | -49% | -9% |
| Operating profit | $283M | -84% | -76% |
| Net earnings | −$1.4B | -306% | -419% |
| Operating cash flow | $1.6B | -65% | +60% |
What changed
Revenue was $5.1B in Q1 2026, down 9% year over year and down 49% from the previous quarter. Retirement Services was the largest line at 80% of revenue. Retirement Services lost $0.45B year over year (down 10%), 93% of the total change.
Operating profit was $0.28B, a 5.6% margin (down 15.7 points year over year). Total costs grew 9% against a revenue fall of 9%. The quarter ended with a net loss of $1.4B, after a profit of $1.2B the previous quarter.
Operating cash flow was $1.6B (up 60% year over year). Non-cash charges added back $0.40B of depreciation and amortization and $0.23B of share-based compensation. Working capital and other items added $2.4B.
Questions
What was Apollo Global Management's revenue in the first quarter 2026?
Apollo Global Management (APO) reported revenue of $5.1B for the first quarter 2026 (Q1 2026), -9% from a year earlier and -49% from the quarter before.
Was Apollo Global Management profitable in the first quarter 2026?
Operating profit was $283M (5.6% of revenue) and net loss $1.4B.