Apollo Global Management Inc. APO, -2.20% said Tuesday its third-quarter net income fell to $249.16 million, or $1.01 a share, from $263.24 million, or $1.11 a share, in the year-ago quarter. Revenue rose to $1.08 billion from $1.02 billion. Distributable earnings rose to $752.1 million, or $1.71 a share, from $205.1 million, or 47 cents a share in the year-ago quarter. Analysts expected Apollo to earn $1.10 a share. AUM for the private equity firm rose to $481.1 billion from $433.1 billion. Total dry powder for deals stood at $46.9 billion. Shares of Apollo are up 55.8% this year, compared to a rise of 22.8% by the S&P 500.
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