Ally Financial: 4Q Earnings Snapshot
DETROIT (AP) _ Ally Financial Inc. (ALLY) on Friday reported fourth-quarter net income of $687 million.
On a per-share basis, the Detroit-based company said it had profit of $1.82. Earnings, adjusted for non-recurring gains, were $1.60 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The auto finance company and bank posted revenue of $1.98 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.65 billion.
For the year, the company reported profit of $1.09 billion, or $2.88 per share. Revenue was reported as $6.69 billion.
Ally Financial shares have increased 12% since the beginning of the year. The stock has risen 32% 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 https://www.zacks.com/ap/ALLY