NEW YORK (AP) — NEW YORK (AP) — Apollo Commercial Real Estate Finance (ARI) on Monday reported fourth-quarter net income of $40.7 million.
On a per-share basis, the New York-based company said it had profit of 27 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 32 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The real estate investment trust posted revenue of $70.5 million in the period. Its adjusted revenue was $43.5 million.
Apollo Commerical Finance shares have risen 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.09, a drop of 15% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARI at https://www.zacks.com/ap/ARI
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.