U.S. Markets closed

Navient: 3Q Earnings Snapshot

WILMINGTON, Del. (AP) _ Navient Corp. (NAVI) on Tuesday reported third-quarter earnings of $145 million.

On a per-share basis, the Wilmington, Delaware-based company said it had profit of 63 cents. Earnings, adjusted for non-recurring gains, came to 62 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The student loan servicing company posted revenue of $1.36 billion in the period. Its adjusted revenue was $312 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $295.3 million.

Navient shares have increased 38% since the beginning of the year, while the Standard & Poor's 500 index has climbed 20%. In the final minutes of trading on Tuesday, shares hit $12.15, a fall of 3% 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