Ally Financial Inc. reported earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income of $177 million, or $0.23 per diluted common share, for the fourth quarter of 2014, compared to net income of $423 million, or $0.74 per diluted common share, in the priorquarter, and net income of $104 million, or a loss of $0.78 per diluted common share, for the fourth quarter of 2013. The company reported core pre-tax income of $229 million in the fourth quarter of 2014, compared to core pre-tax income of $467 million in the prior quarter and $142 million in the comparable prior year period. Adjusted earnings per diluted common share for the quarter were $0.40, compared to $0.53 for the previous quarter, and a loss of $0.14 for the comparable prior year period. Results for the quarter were driven by solid operating results from the Dealer Financial Services group, which increased pre-tax income by 45% compared to the prior year period, due in part to the non-recurrence of the $98 million charge related to the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) settlement were taken in the prior year period. Total net revenue was $1.01 billion compared to $1.10 billion a year ago.

For the full year 2014, the company reported net income of $1.2 billion, or $1.83 per diluted common share, compared to net income of $361 million in 2013, or a loss of $1.64 per diluted common share. Core pre-tax income in 2014 totaled $1.4 billion, compared to core pre-tax income of $606 million in the prior year. Core pre-tax income of $1.6 billion for 2014 compared to $850 million for 2013. Adjusted earnings per diluted common share for full year 2014 were $1.68, compared to a loss of $0.14 in the prior year. Total net revenue was $4.65 billion compared to $4.26 billion a year ago.