Ally Financial (ALLY) Gains on Q1 Earnings Beat, Costs Rise Y/Y

Shares of Ally Financial (ALLY) gained 6.7% following the release of its first-quarter 2024 results. Adjusted earnings of 45 cents per share surpassed the Zacks Consensus Estimate of 33 cents. 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 availa ...