DETROIT (AP) — DETROIT (AP) — Ally Financial Inc. (ALLY) on Tuesday reported second-quarter net income of $410 million.
The Detroit-based company said it had profit of $1.18 per share. Earnings, adjusted for non-recurring costs, were $1.21 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The auto finance company and bank posted revenue of $2.29 billion in the period.
Ally Financial shares have risen 0.5% since the beginning of the year. The stock has increased 14% 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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