Ally Financial (ALLY) Q2 Earnings Beat, Stock Dips on Cost Hike

Ally Financial’s (ALLY) second-quarter 2024 adjusted earnings of 97 cents per share surpassed the Zacks Consensus Estimate of 62 cents. Also, the bottom line reflects a rise of 1% from the year-ago quarter.In the reported quarter, the company saw a marginal increase in loans. Also, the capital ratios increased, which was a positive. However, a decline in revenues and higher expenses were the undermining factors. Also, an increase in provisions hurt the results to some extent. Probably due to these negatives ...