DETROIT (AP) — DETROIT (AP) — Ally Financial Inc. (ALLY) on Friday reported first-quarter net income of $319 million, after reporting a loss in the same period a year earlier.
The Detroit-based company said it had profit of 93 cents per share. Earnings, adjusted for non-recurring costs, were $1.11 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The auto finance company and bank posted revenue of $2.1 billion in the period.
Ally Financial shares have dropped slightly more than 7% since the beginning of the year. The stock has risen 30% 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
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