NEW YORK (AP) _ Apollo Commercial Real Estate Finance (ARI) on Wednesday reported third-quarter earnings of $69.9 million.
On a per-share basis, the New York-based company said it had profit of 83 cents. Earnings, adjusted for one-time gains and costs, came to 52 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The real estate investment trust posted revenue of $53.3 million in the period.
Apollo Commerical Finance shares have decreased 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.50, a fall of slightly more than 2 percent 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 http://www.zacks.com/ap/ARI
Keywords: Apollo Commerical Finance, Earnings Report
Automated Insights, source Associated Press News