Ally Financial: 2Q Earnings Snapshot
Posted Jul 17, 2020 07:50:12 AM.
Last Updated Jul 17, 2020 08:02:07 AM.
This article is more than 5 years old.
DETROIT (AP) _ Ally Financial Inc. (ALLY) on Friday reported second-quarter net income of $241 million.
The Detroit-based company said it had net income of 64 cents per share. Earnings, adjusted for one-time gains and costs, came to 61 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The auto finance company and bank posted revenue of $1.61 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.45 billion.
Ally Financial shares have dropped 27% since the beginning of the year. The stock has fallen 29% 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
The Associated Press
