Ally Financial: Q4 Earnings Snapshot

DETROIT (AP) — DETROIT (AP) — Ally Financial Inc. (ALLY) on Friday reported fourth-quarter net income of $76 million.

On a per-share basis, the Detroit-based company said it had net income of 16 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 45 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The auto finance company and bank posted revenue of $2.07 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $1.99 billion.

For the year, the company reported profit of $1.02 billion, or $2.98 per share. Revenue was reported as $8.21 billion.

Ally Financial shares have dropped 8% since the beginning of the year. The stock has increased 19% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALLY at https://www.zacks.com/ap/ALLY