Filing Flows › Apollo Global Management (APO) › Q3 2026 › vs Q3 2025
Apollo Global Management (APO) Q3 2026 vs Q3 2025 (year over year)
Apollo Global Management's revenue fell $5.1B (-52%) from $9.8B in Q3 2025 to $4.7B in Q3 2026. The biggest changes: Retirement Services −$4.9B (-59%); Asset Management −$204M (-14%).
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 Q3 2025, the increases inside each band.
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Retirement Services | $3.5B | $8.3B | −$4.9B | -59% |
| Asset Management | $1.3B | $1.5B | −$204M | -14% |
| Revenue | $4.7B | $9.8B | −$5.1B | -52% |
| Income tax benefit | $344M | −$438M | $782M | — |
| Net loss | $1.1B | −$2.5B | $3.6B | — |
| Costs & expenses | $6.2B | $9.8B | −$3.6B | -37% |
| Operating costs | $6.2B | $6.9B | −$719M | -10% |
| Operating cash sources | $1.3B | −$2.2B | $3.4B | — |
| Depreciation & amortization | $538M | $400M | $138M | +34% |
| Share-based compensation | $244M | $208M | $36.0M | +17% |
| Working capital & other | $476M | −$2.8B | $3.2B | — |
| Net loss absorbed | $1.1B | −$2.5B | $3.6B | — |
| Operating cash flow | $136M | $303M | −$167M | -55% |
Questions
How much did Apollo Global Management's revenue grow year over year in Q3 2026?
Apollo Global Management's revenue fell $5.1B (-52%) from $9.8B in Q3 2025 to $4.7B in Q3 2026.
What drove Apollo Global Management's revenue change in Q3 2026?
Retirement Services −$4.9B (-59%); Asset Management −$204M (-14%).