Ally Financial Reports Better-Than-Expected Q3 Earnings and Revenue
Ally Financial (ALLY) reported better-than-expected third-quarter earnings and revenue, despite an increase in its provision for loan losses. The company's stock rose 2.1% in premarket trading following the results. Ally also revised downward the top end of its full-year guidance for net interest margin and other revenue growth. The lender attributed part of its strong performance to effective expense control, which helped it exceed earnings expectations. While loan loss provisions increased, this was offset by cost management strategies that contributed positively to profitability in the quarter.
Tickers: $ALLY
Topics: Earnings Expense Control Net Interest Margin
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Part of the story Ally Financial Reports Q3 Earnings Growth Amid Strategic Shifts (6 articles)