Ally Financial reports Q2 non-GAAP EPS of $1.21, missing estimates by $0.01, while revenue rises 10.7% year-over-year to $2.28B.
Ally Financial posted Q2 non-GAAP earnings per share of $1.21, missing expectations by $0.01, despite revenue climbing to $2.28 billion, a 10.7% year-over-year increase that beat estimates by $60M.
The company’s return on common equity improved by 20 basis points to 11.0%, while core return on tangible common equity rose 80 basis points to 11.8% compared to the prior year. Revenue growth was driven by higher net financing revenue and strong performance in its auto finance segment.
Shares of Ally Financial rose 2.3% in premarket trading following the release.