HERNDON, Va. (AP) — Navient Corp. (NAVI) on Wednesday reported fourth-quarter profit of $24 million.
The Herndon, Virginia-based company said it had profit of 22 cents per share. Earnings, adjusted for one-time gains and costs, were 25 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The student loan servicing company posted revenue of $950 million in the period. Its adjusted revenue was $134 million, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $151 million.
For the year, the company reported profit of $131 million, or $1.18 per share. Revenue was reported as $573 million.
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This story has been corrected to show that Navient is based in Hernon, Virginia, not Virgin Islands.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NAVI at https://www.zacks.com/ap/NAVI
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