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CIT: 2Q Earnings Snapshot

NEW YORK (AP) _ CIT Group Inc. (CIT) on Tuesday reported second-quarter net income of $126.8 million.

On a per-share basis, the New York-based company said it had profit of 94 cents. Earnings, adjusted for one-time gains and costs, were $1 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The commericial lender posted revenue of $870.3 million in the period. Its adjusted revenue was $524 million.

CIT shares have climbed 7 percent since the beginning of the year. The stock has climbed almost 8 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CIT at https://www.zacks.com/ap/CIT