Reported 3 days ago
Despite a tumultuous period for the auto industry, Ally Financial reported impressive third-quarter earnings, with earnings per share at $1.18, exceeding analyst predictions of 96 cents. The company's net income reached $371 million, significantly higher than expected. Ally's financial health remains robust, showcasing strong retail loan performance and a decline in delinquency rates, even as other automotive firms face bankruptcy and increasing loan defaults. Expert insights suggest a solid momentum moving forward, with record auto loan applications highlighting ongoing demand.
Source: YAHOO