Navient: 3Q Earnings Snapshot | Enterprise Ap
WILMINGTON, Del. (AP) — Navient Corp. (NAVI) on Tuesday reported third-quarter net income of $207 million.
The Wilmington, Delaware-based company said it had profit of $1.07 per share. Earnings, adjusted for non-recurring gains, were 99 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The student loan servicing company posted revenue of $938 million in the period. Its adjusted revenue was $336 million.
Navient shares have decreased 28% since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 7%. In the final minutes of trading on Tuesday, shares hit $9.90, a decrease of 17% in the last 12 months.
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