"Ally Financial reported total net revenue of $2.08 billion in the second quarter, marking a 3% increase year-over-year."
"GAAP earnings per share (EPS) was $1.04, and adjusted EPS was $0.99, beating Wall Street expectations of $0.78 per share."
"Net income attributable to common shareholders rose to $324 million, up 70% from $191 million in Q2 2024, driven by lower provisions for credit losses."
"Consumer auto originations hit a record $11.0 billion and the company highlighted momentum in diversified revenue streams."
Ally Financial reported net revenue of $2.08 billion in Q2, a 3% year-over-year increase. GAAP EPS was $1.04, with adjusted EPS at $0.99, exceeding expectations of $0.78. Net income surged to $324 million, a 70% rise from $191 million in Q2 2024. This growth was fueled by lower credit loss provisions and reduced noninterest expenses. The net interest margin increased to 3.41%. Consumer auto originations reached a record $11.0 billion, demonstrating momentum across various revenue streams despite the impact from the sale of the credit card business and mortgage wind-downs.
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