UPDATE: Apollo Reports Q2 Loss of $51M

Apollo Global Management LLC APO released its results for the second quarter on Tuesday. Apollo reported a quarterly loss at $51 million, or $0.46 per Class A share, versus a loss of $75.1 million, or $0.79 per Class A share, in the year-ago period. Its revenue surged to $308.9 million from $79.3 million. However, analysts were expecting earnings of $0.31 per share on revenue of $331 million. Apollo shares closed at $13.24 yesterday.