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CIT Group Inc. Q3 adjusted earnings Beat Estimates

CIT Group Inc. (CIT) announced earnings for third quarter that dropped from the same period last year.

The company's bottom line came in at $83 million, or $0.84 per share. This compares with $143 million, or $1.50 per share, in last year's third quarter.

Excluding items, CIT Group Inc. reported adjusted earnings of $83 million or $0.84 per share for the period.

Analysts had expected the company to earn $0.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.4% to $474 million from $454 million last year.

CIT Group Inc. earnings at a glance:

-Earnings (Q3): $83 Mln. vs. $123 Mln. last year.
-EPS (Q3): $0.84 vs. $1.29 last year.
-Analysts Estimate: $0.11
-Revenue (Q3): $474 Mln vs. $454 Mln last year.

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