NEWARK, Del. (AP) — NEWARK, Del. (AP) — SLM Corp. (SLM) on Wednesday reported fourth-quarter net income of $168.4 million.
The Newark, Delaware-based company said it had net income of 72 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The student loan company posted revenue of $725.7 million in the period. Its adjusted revenue was $385.9 million, exceeding Street forecasts. Six analysts surveyed by Zacks expected $379.2 million.
For the year, the company reported profit of $581.4 million, or $2.41 per share. Revenue was reported as $1.56 billion.
Sallie Mae expects full-year earnings in the range of $2.60 to $2.70 per share.
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