RTTNews | Jan 21, 2022 08:03AM EST

08:02 Friday, January 21, 2022 (RTTNews.com) - Ally Financial Inc. (ALLY), a bank holding company, reported Thursday that third-quarter net income attributable to shareholders decreased to $624 million or $1.79 per share from $687 million or $1.82 per share in the year-ago quarter.

Excluding items, adjusted earnings for the quarter were $2.02 per share, compared to $1.60 per share in the prior-year quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $1.96 per share for the quarter. Analysts' estimates typically exclude special items.

Total net revenue for the quarter grew 11 percent to $2.20 billion from $1.99 billion in the year-ago quarter. Adjusted total net revenue increased 17 percent from last year. Analysts expected revenue of $2.06 billion for the quarter.

Ally Financial said its Board of Directors authorized up to $2.0 billion in common share repurchases for 2022, and increased quarterly common dividend 20% to $0.30 per share.

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