Ally Financial: Q2 Earnings Snapshot

DETROIT (AP) _ Ally Financial Inc. (ALLY) on Tuesday reported second-quarter earnings of $900 million.

On a per-share basis, the Detroit-based company said it had profit of $2.41. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to $2.33 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.

The auto finance company and bank posted revenue of $2.09 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.87 billion.

Ally Financial shares have risen 35% since the beginning of the year. The stock has more than doubled 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

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