CIT Group Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - CIT Group Inc. (CIT) announced a profit for its first quarter that rose from the same period last year.

The company's bottom line came in at $119 million, or $1.18 per share. This compares with $97 million, or $0.74 per share, in last year's first quarter.

Excluding items, CIT Group Inc. reported adjusted earnings of $119 million or $1.18 per share for the period.

Analysts had expected the company to earn $1.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.9% to $466 million from $495 million last year.

CIT Group Inc. earnings at a glance:

-Earnings (Q1): $119 Mln. vs. $97 Mln. last year. -EPS (Q1): $1.18 vs. $0.69 last year. -Analysts Estimate: $1.08 -Revenue (Q1): $466 Mln vs. $495 Mln last year.