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Apollo Global Management, MarketAxess' Q4'17 results top analyst estimates

Apollo Global Management LLC and MarketAxess Holdings Inc. led a host of securities and investments companies that surpassed analysts' estimates when they announced their fourth-quarter 2017 earnings results during the week ending Feb. 1.

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Apollo Global reported quarterly EPS attributable to class A shareholders of 92 cents, up from 87 cents in the prior-year period.

But when adjusted to align with how analysts treated certain items during the quarter, Apollo's actual normalized EPS was $1.22, 84.8% higher than the average analyst EPS estimate of 66 cents, according to S&P Global Market Intelligence data.

The second-largest discrepancy for the week came from MarketAxess, which had an actual normalized fourth-quarter 2017 EPS of $1.19, 35.3% higher than the average analyst EPS estimate of 88 cents.

While Evercore Inc. and Franklin Resources Inc.'s reported figures seemed to have drastically underwhelmed analysts' expectations for the three-month period, both companies said their respective net losses stemmed from the impact of tax reform in the U.S.

After adjusting the results, Evercore posted an actual normalized EPS of $1.55 for its fourth quarter of 2017, compared with the average analyst EPS estimate of $1.24. Franklin Resources recorded an actual normalized EPS for its fiscal first quarter of 2018 of 88 cents, compared with the average analyst EPS estimate of 76 cents.