Navient: Q2 Earnings Snapshot
WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Navient Corp. (NAVI) on Wednesday reported second-quarter net income of $66 million.
On a per-share basis, the Wilmington, Delaware-based company said it had profit of 52 cents. Earnings, adjusted for non-recurring costs, were 70 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The student loan servicing company posted revenue of $1.23 billion in the period. Its adjusted revenue was $221 million, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $228.5 million.
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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
