Ally Financial (ALLY) Gains on Q1 Earnings Beat, Costs Rise Y/Y [Yahoo! Finance]
Ally Financial Inc. (ALLY)
Last ally financial inc. earnings: 4/20 07:30 am
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Source: Yahoo! Finance
However, the bottom line reflects a decline of 45.1% from the year-ago quarter. Results were primarily aided by an improvement in other revenues. However, a decline in net financing revenues, along with higher expenses and provisions, were the undermining factors. After considering non-recurring items, net income available to common shareholders (on a GAAP basis) was $129 million compared with $291 million in the prior-year quarter. Revenues Decline, Expenses Rise Total GAAP net revenues were $1.99 billion, down 5.4% from the prior-year quarter. However, the top line surpassed the Zacks Consensus Estimate of $1.96 billion. Net financing revenues were down 9.1% from the prior-year quarter to $1.46 billion. The decline was primarily due to a drastic rise in interest on deposits. Our estimate for net financing revenues was $1.44 billion. The adjusted net interest margin was 3.16%, down 38 basis points year over year. Total other revenues were $530 million, up 6.4% from the
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ALLY
Earnings
- 4/19/24 - Beat
ALLY
Sec Filings
- 4/30/24 - Form 3
- 4/29/24 - Form 424B2
- 4/29/24 - Form 424B2
- ALLY's page on the SEC website