Ally Financial Q1 Results Top Estimates

(RTTNews) - Ally Financial Inc. (ALLY), a bank holding company, reported Thursday that first-quarter net income attributable to shareholders decreased to $129 million or $0.42 per share from $291 million or $0.96 per share in the year-ago quarter.

Excluding items, adjusted earnings for the quarter were $0.45 per share, compared to $0.82 per share in the prior-year quarter.

On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.

Total net revenue for the quarter declined 5 percent to $1.99 billion from $2.10 billion in the year-ago quarter. Adjusted total net revenue decreased 3 percent from last year to $1.99 billion. Analysts expected revenue of $1.96 billion for the quarter.

Ally Financial said its board of directors approved a $0.30 per share common dividend for the second quarter of 2024.

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