Filing Flows › Apollo Global Management (APO) › Q3 2026 › vs Q2 2026
Apollo Global Management (APO) Q3 2026 vs Q2 2026 (quarter over quarter)
Apollo Global Management's revenue fell $6.4B (-58%) from $11.2B in Q2 2026 to $4.7B in Q3 2026. The biggest changes: Retirement Services −$6.1B (-64%); Asset Management −$344M (-21%).
Apollo Global Management, Q3 2026: revenue $4.7B (-52% year over year), operating margin -30.9%, net loss $1.1B, operating cash flow $136M. The chart draws each line against Q2 2026, the increases inside each band.
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Retirement Services | $3.5B | $9.5B | −$6.1B | -64% |
| Asset Management | $1.3B | $1.6B | −$344M | -21% |
| Revenue | $4.7B | $11.2B | −$6.4B | -58% |
| Income tax benefit | $344M | −$396M | $740M | — |
| Net loss | $1.1B | −$2.1B | $3.2B | — |
| Costs & expenses | $6.2B | $11.2B | −$4.9B | -44% |
| Operating costs | $6.2B | $8.7B | −$2.5B | -28% |
| Operating cash sources | $1.3B | $792M | $466M | +59% |
| Depreciation & amortization | $538M | $414M | $124M | +30% |
| Share-based compensation | $244M | $246M | −$2.0M | -0.8% |
| Working capital & other | $476M | $132M | $344M | +261% |
| Net loss absorbed | $1.1B | −$2.1B | $3.2B | — |
| Operating cash flow | $136M | $2.9B | −$2.7B | -95% |
Questions
How much did Apollo Global Management's revenue grow quarter over quarter in Q3 2026?
Apollo Global Management's revenue fell $6.4B (-58%) from $11.2B in Q2 2026 to $4.7B in Q3 2026.
What drove Apollo Global Management's revenue change in Q3 2026?
Retirement Services −$6.1B (-64%); Asset Management −$344M (-21%).