UPDATE: CIT Posts Wider Q2 Loss
CIT Group (NYSE: CIT) reported a wider second-quarter loss.
CIT posted a quarterly loss of $70.7 million, or $0.35 per share, versus a year-ago loss of $49.7 million, or $0.25 per share. However, analysts were expecting a loss of $0.57 per share.
Its total interest income dropped 32% to $409.3 million. However, its total noninterest income declined 9.8% to $589.5 million.
CIT shares closed at $34.79 on Friday.
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