DETROIT (AP) — DETROIT (AP) — Ally Financial Inc. (ALLY) on Tuesday reported third-quarter earnings of $433 million.
The Detroit-based company said it had net income of $1.30 per share. Earnings, adjusted for non-recurring costs, were $1.34 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The auto finance company and bank posted revenue of $2.33 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $2.28 billion.
Ally Financial shares have dropped 17% since the beginning of the year. The stock has declined nearly 6% 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
Source: finance.yahoo.com
