Ally Financial Posts Mixed Q2 Earnings
Portfolio Pulse from Lekha Gupta
Ally Financial Inc reported Q2 adjusted revenues of $2.066 billion, missing the consensus of $2.090 billion. However, adjusted EPS of $0.96 beat the consensus of $0.92. Deposits increased to $154.3 billion from $140 billion a year ago. The company now expects a net interest margin of 3.4% in 2023. ALLY shares are trading higher by 3.25% at $29.06.
July 19, 2023 | 3:07 pm
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POSITIVE IMPACT
Ally Financial's Q2 revenues missed expectations but EPS beat estimates. The company's shares are trading higher, indicating positive investor sentiment.
Despite missing revenue estimates, Ally Financial's EPS beat expectations, which is a positive sign of the company's profitability. The increase in deposits indicates growth in the company's customer base. The rise in the company's stock price suggests that investors have reacted positively to the earnings report.
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IMPORTANCE 80
RELEVANCE 100