RTTNews | Oct 16, 2020 06:24AM EDT

06:23 Friday, October 16, 2020 (RTTNews.com) - 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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