CIT 3Q profit tops views, revises prior quarters

CIT 3Q profit tops views, revises prior quarters

October 26, 2010, 10:26 am

CIT Group Inc., the business lender led by former Merrill Lynch CEO John A. Thain, on Tuesday posted stronger-than-expected third-quarter profit as business activity increased. The company, which spent a month in bankruptcy reorganization at the end of last year, also revised its first- and second-quarter results higher after reviewing its accounting.