NEWARK, Del. (AP) — NEWARK, Del. (AP) — SLM Corp. (SLM) on Wednesday reported first-quarter profit of $289.9 million.
On a per-share basis, the Newark, Delaware-based company said it had profit of $1.27.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The student loan company posted revenue of $837.7 million in the period. Its adjusted revenue was $387 million, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $376.4 million.
Sallie Mae expects full-year earnings to be $2.60 to $2.70 per share.
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