Ally Financial Inc. shares dropped 3.7% in premarket trades Tuesday after the company said its second-quarter net income fell to $454 million, or $1.40 a share, from $900 million, or $2.41 a share in the year-ago quarter. The company’s adjusted net income fell to $1.76 a share from $2.33 a share in the year-ago quarter. Revenue dipped slightly to $2.08 billion from $2.09 billion. Analysts were looking for earnings of $1.87 a share on revenue of just under $2.2 billion, according to a FactSet survey. Prior to Tuesday’s trades, Ally Financial shares have fallen 27.4% in 2022, compared to a loss of 19.6% by the S&P 500 .
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