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
- Leadership role
- No legionella detected at the Oakland County jail, courthouse tower and child development center
- Jury convicts man of killing his girlfriend, the mother of his child
- Nessel files motion to reopen ‘Conditional Approval’ of DTE data center contracts
- Distinguished constitutional law scholar honored at ABA reception for lifetime achievement
headlines National
- Inter American University of Puerto Rico School of Law back in compliance with ABA standard
- Chemerinsky: The Fourth Amendment comes back to the Supreme Court
- Reinstatement of retired judge reversed by state supreme court
- Mass tort lawyer suspended for 3 years for lying to clients
- Law firms in Minneapolis are helping lawyers, staff navigate unrest
- Federal judge faces trial on charges of being ‘super drunk’ while driving
