Oct 21 (Reuters) - Subprime auto lender AmeriCredit Corp posted a first-quarter profit that handily beat analysts' estimates, helped mainly by lower provision for bad loans.
"We are seeing a moderation in the rate of deterioration in our credit performance," Chief Executive Dan Berce said.
For the quarter, the company posted a net income of $26 million, or 19 cents a share, compared with a loss of $5 million, or 5 cents a share, a year ago.
Analysts on average expected a profit of 6 cents a share, before items, according to Thomson Reuters I/B/E/S.
Provision for loan losses fell to about $158 million from $274.9 million.
Originations slumped to $229 million in the quarter from $579 million a year earlier.
The company had total available liquidity of $704 million at Sept. 30.
Shares of AmeriCredit closed at $16.63 Wednesday on the New York Stock Exchange.

(Reporting by Abhinav Sharma in Bangalore; Editing by Unnikrishnan Nair) Keywords: AMERICREDIT/ (abhinav.sharma@thomsonreuters.com; within U.S +1 646 223 8780; Outside U.S +91 080 4135 5800; Reuters messaging: abhinav.sharma.thomsonreuters.com@reuters.net)

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