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Ally Financial: 1Q Earnings Snapshot

Ally Financial: 1Q Earnings Snapshot

Associated Press

DETROIT (AP) _ Ally Financial Inc. (ALLY) on Thursday reported first-quarter profit of $374 million.

On a per-share basis, the Detroit-based company said it had profit of 92 cents. Earnings, adjusted for non-recurring gains, were 80 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The auto finance company and bank posted revenue of $1.6 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $1.53 billion.

Ally Financial shares have risen 31 percent since the beginning of the year. The stock has climbed roughly 8 percent 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