DETROIT (AP) _ Ally Financial Inc. (ALLY) on Thursday reported first-quarter net income of $655 million.

The Detroit-based company said it had profit of $1.86 per share. Earnings, adjusted for non-recurring costs, came to $2.03 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.

The auto finance company and bank posted revenue of $2.13 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $2.14 billion.

Ally Financial shares have fallen almost 9% since the beginning of the year. The stock has dropped roughly 8% in the last 12 months.

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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