CIT Group Inc. Profit Advances In Q2

CIT Group Inc. (CIT) announced earnings for its second quarter that increased from the same period last year.

The company’s earnings came in at $137.9 million, or $1.11 per share. This compares with $41.2 million, or $0.22 per share, in last year’s second quarter.

Analysts had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 10.6% to $524.4 million from $474.1 million last year.

CIT Group Inc. earnings at a glance:

-Earnings (Q2): $137.9 Mln. vs. $41.2 Mln. last year.
-EPS (Q2): $1.11 vs. $0.22 last year.
-Analysts Estimate: $0.97
-Revenue (Q2): $524.4 Mln vs. $474.1 Mln last year.

by RTTNews Staff Writer

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