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Ally Financial Inc. (ALLY) Stock Surges 2% on Q3 Earnings Beat and Robust Auto Originations
Ally Financial Inc. (ALLY) Stock Surges 2% on Q3 Earnings Beat and Robust Auto Originations
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BTCCSquare news:
Ally Financial Inc. shares rose 2.91% to $39.57 following a strong third-quarter earnings report. The company's profit doubled year-over-year, reaching $371 million, driven by higher retail auto originations and improved credit quality. GAAP earnings per share surged 116% to $1.18, while adjusted earnings stood at $1.15 per share. Total net revenue hit $2.2 billion, with a Core return on tangible common equity of 15.3%.
Pre-tax income climbed to $513 million, up $248 million from the previous year. Net financing revenue dipped slightly to $1.3 billion due to reduced lease gains and commercial assets, but lower credit loss provisions offset the decline. Consumer demand remained steady, reflecting disciplined cost management and risk control.
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