DETROIT (AP) — Ally Financial Inc. (ALLY) on Tuesday reported second-quarter profit of $182 million.
On a per-share basis, the Detroit-based company said it had net loss of $2.22. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The auto finance company and bank posted revenue of $1.13 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.27 billion.
Ally Financial shares have decreased roughly 9 percent since the beginning of the year. The stock has dropped 10 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 ALLY at http://www.zacks.com/ap/ALLY.
- Posted July 30, 2015
- Tweet This | Share on Facebook
Ally Financial tops second quarter profit forecasts
headlines Oakland County
- Reading reenactment
- Supreme Court overturns precedent on how to determine a child's domicile when parents are divorced
- Nessel reissues government imposter scams consumer alert following reports
- Formal Opinion 524: Government lawyers’ obligations when knowing of a public official’s intended or ongoing violation of law
- Whitmer signs bipartisan bills to address the opioid crisis, support public health
headlines National
- How to use AI but steer clear of hallucinated cases
- Lawyers for low-income clients strike in NYC
- Top prosecutor for International Criminal Court accused of sexual misconduct
- Big Tech companies facing new wave of lawsuits over copyright and AI
- Lawyer says he was ‘manic’ when he bought Cape Cod mansion in danger of falling into ocean
- Judge regrets ‘entitled little snot’ comment but still fit for the bench, lawyer says
