Digital banking company Ally Financial (NYSE:ALLY) will be reporting earnings this Friday morning. Here’s what you need to know.
Ally Financial beat analysts’ revenue expectations last quarter, reporting revenues of $2.17 billion, up 3.7% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a narrow beat of analysts’ revenue estimates.
Is Ally Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ally Financial’s revenue to grow 3.7% year on year, in line with the 3.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ally Financial has a history of exceeding Wall Street’s expectations.
With Ally Financial being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for consumer finance stocks. However, there has been positive investor sentiment in the segment, with share prices up 9.5% on average over the last month. Ally Financial is up 13.8% during the same time .
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