Filing Flows › Apollo Global Management (APO) › Q2 2026
Apollo Global Management (APO) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 10, 2026
Apollo Global Management (APO) reported revenue of $11.2B for the second quarter 2026 (Q2 2026), +64% from a year earlier and +120% from the quarter before. Operating margin was 22.3%, net earnings $1.4B (12.2% of revenue).
Apollo Global Management, Q2 2026: revenue $11.2B (+64% year over year), operating margin 22.3%, net earnings $1.4B, operating cash flow $2.9B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.2B | +120% | +64% |
| Operating profit | $2.5B | +778% | +194% |
| Net earnings | $1.4B | — | +116% |
| Operating cash flow | $2.9B | +78% | +128% |
What changed
Revenue was $11.2B in Q2 2026, up 64% year over year and up 120% from the previous quarter. Retirement Services was the largest line at 85% of revenue. Retirement Services added $3.8B year over year (up 67%), 88% of the total change.
Operating profit was $2.5B, a 22.3% margin (up 9.9 points year over year). Of the extra revenue versus Q2 2025, 38% reached operating profit, above the 12% margin then. Total costs grew 45% against revenue growth of 64%. Net earnings were $1.4B, up 116% year over year. The effective tax rate was 15.9%.
Operating cash flow was $2.9B (up 128% year over year), 138% of net income including minority interests. Non-cash charges added back $0.41B of depreciation and amortization and $0.25B of share-based compensation.
Questions
What was Apollo Global Management's revenue in the second quarter 2026?
Apollo Global Management (APO) reported revenue of $11.2B for the second quarter 2026 (Q2 2026), +64% from a year earlier and +120% from the quarter before.
Was Apollo Global Management profitable in the second quarter 2026?
Operating profit was $2.5B (22.3% of revenue) and net earnings $1.4B.