CIT Group Inc. Profit Advances In Q2

(RTTNews) - 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.