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Ally Financial’s Quarterly Earnings Soar 70%
Ally Financial Inc. reports net income of $177 million in the fourth quarter compared with $104 million in October-December 2013.
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Ally Financial Inc. reports net income of $177 million in the fourth quarter compared with $104 million in October-December 2013.
Quarterly pretax income jumped to $229 million from $142 million a year earlier. Results were driven largely by a 45% hike in pretax earnings for the auto finance company's Dealer Financial Services unit.
For the full year, Ally boosted net income to $1.2 billion from $361 million in 2013. Pretax profit climbed to $1.4 billion from $606 million. The company says its finance business with non-General Motors and Chrysler dealers grew 45%.
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