CIT: 2Q Earnings Snapshot
NEW YORK (AP) _ CIT Group Inc. (CIT) on Tuesday reported second-quarter earnings of $137.6 million.
The New York-based company said it had profit of $1.33 per share. Earnings, adjusted to account for discontinued operations, were $1.32 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The commericial lender posted revenue of $834.6 million in the period. Its adjusted revenue was $467 million.
CIT shares have risen 31% since the beginning of the year. The stock has declined 4% in the last 12 months.