NEW YORK (TheStreet) -- Shares of Ally Financial Inc. (ALLY) - Get Ally Financial Inc Report are rising by 3.08% to $22.90 in late afternoon trading on Wednesday, after the company reported an increase in net income for the 2014 third quarter of $423 million, or 74 cents per diluted share, compared to $91 million, or a loss of 27 cents per diluted share for the year ago period.

The automotive financial services company said adjusted earnings per diluted share for the most recent quarter was 53 cents versus 5 cents for the third quarter of 2013.

Analysts polled by Thomson Reuters were expecting earnings of 42 cents per share for the quarter.

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"In the third quarter, Ally's results demonstrated continued strength and marketplace leadership by its dealer financial services operation, as well as steady and efficient deposit growth at Ally Bank," said company CEO Michael Carpenter.

ALLY data by YCharts

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