DETROIT (AP) — DETROIT (AP) — Ally Financial Inc. (ALLY) on Wednesday reported fourth-quarter earnings of $327 million.
The Detroit-based company said it had profit of 95 cents per share. Earnings, adjusted for non-recurring costs, came to $1.09 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The auto finance company and bank posted revenue of $2.12 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $2.13 billion.
For the year, the company reported profit of $852 million, or $2.37 per share. Revenue was reported as $7.91 billion.
Ally Financial shares have declined slightly more than 6% since the beginning of the year. The stock has climbed 15% 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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