DETROIT (AP) — DETROIT (AP) — Ally Financial Inc. (ALLY) on Wednesday reported third-quarter earnings of $296 million.
On a per-share basis, the Detroit-based company said it had profit of 88 cents. Earnings, adjusted for pretax gains, came to 83 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The auto finance company and bank posted revenue of $1.97 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $2.04 billion.
Ally Financial shares have increased roughly 4% since the beginning of the year. The stock has declined 16% in the last 12 months.
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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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