Ally Financial: 2Q Earnings Snapshot
Ally Financial: 2Q Earnings Snapshot
DETROIT (AP) _ Ally Financial Inc. (ALLY) on Thursday reported second-quarter earnings of $349 million.
On a per-share basis, the Detroit-based company said it had profit of 81 cents. Earnings, adjusted for one-time gains and costs, were 83 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The auto finance company and bank posted revenue of $1.46 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.47 billion.
Ally Financial shares have decreased 4 percent since the beginning of the year. The stock has increased 27 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALLY at https://www.zacks.com/ap/ALLY