HERNDON, Va. (AP) — HERNDON, Va. (AP) — Navient Corp. (NAVI) on Wednesday reported first-quarter net income of $17 million.
On a per-share basis, the Herndon, Virginia-based company said it had net income of 17 cents. Earnings, adjusted for non-recurring costs, came to 20 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The student loan servicing company posted revenue of $716 million in the period. Its adjusted revenue was $126 million, missing Street forecasts. Four analysts surveyed by Zacks expected $128.1 million.
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