UPDATE: Apollo Global Posts Higher Q4 Profit

Apollo Global Management LLC APO reported a rise in its fourth-quarter profit. Apollo Global's quarterly profit surged to $171.5 million, or $1.12 per Class A share, up from $10.9 million, or $0.05 per Class A share, in the year-ago period. Its economic net income came in at $1.69 per share in the quarter. Its revenue rose 79% to $1.16 billion. However, analysts were expecting economic net income of $1.05 per share on revenue of $889 million. Apollo Global shares closed at $22.15 yesterday.