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.
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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 http://www.zacks.com/ap/ALLY.
- Posted July 30, 2015
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Ally Financial tops second quarter profit forecasts
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