NEW YORK (AP) — Apollo Commercial Real Estate Finance (ARI) on Thursday reported fourth-quarter profit of $71.9 million.
On a per-share basis, the New York-based company said it had profit of 42 cents. Earnings, adjusted for one-time gains and costs, were 46 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The real estate investment trust posted revenue of $81.4 million in the period.
For the year, the company reported profit of $230.2 million, or $1.40 per share. Revenue was reported as $334.5 million.
Apollo Commerical Finance shares have climbed 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.69, a climb of almost 2% in the last 12 months.