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Apollo Profit Edges Lower, but Distributable Earnings Hit Record

Apollo Profit Edges Lower, but Distributable Earnings Hit Record

Apollo Global Management Inc. reported lower third-quarter profit, but the portion of its earnings that it could hand back to shareholders climbed to a record level.

The New York firm posted net income of $258.3 million, or $1.01 per share, down from $272.4 million, or $1.11 per share, a year earlier.

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