U.S. Markets closed

Navient: 1Q Earnings Snapshot

WILMINGTON, Del. (AP) _ Navient Corp. (NAVI) on Tuesday reported first-quarter net income of $128 million.

The Wilmington, Delaware-based company said it had net income of 52 cents per share. Earnings, adjusted for non-recurring costs, came to 55 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The student loan servicing company posted revenue of $1.45 billion in the period. Its adjusted revenue was $285 million, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $304.7 million.

Navient shares have climbed 41 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 17 percent. In the final minutes of trading on Tuesday, shares hit $12.43, a decline of slightly more than 7 percent in the last 12 months.


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