Ally Financial: 2Q Earnings Snapshot
DETROIT (AP) _ Ally Financial Inc. (ALLY) on Thursday reported second-quarter net income of $582 million.
On a per-share basis, the Detroit-based company said it had profit of $1.46. Earnings, adjusted for one-time gains and costs, were 97 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The auto finance company and bank posted revenue of $1.55 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.54 billion.
Ally Financial shares have climbed 39% since the beginning of the year. The stock has risen 14% in the last 12 months.