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Ally Financial: 3Q Earnings Snapshot

Ally Financial: 3Q Earnings Snapshot

Associated Press

DETROIT (AP) _ Ally Financial Inc. (ALLY) on Thursday reported third-quarter earnings of $374 million.

On a per-share basis, the Detroit-based company said it had net income of 88 cents. Earnings, adjusted for non-recurring costs, came to 91 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The auto finance company and bank posted revenue of $1.51 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.48 billion.

Ally Financial shares have declined 16 percent since the beginning of the year. The stock has decreased nearly 1 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