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Sallie Mae: 3Q Earnings Snapshot

NEWARK, Del. (AP) _ SLM Corp. (SLM) on Wednesday reported third-quarter profit of $128.5 million.

On a per-share basis, the Newark, Delaware-based company said it had profit of 29 cents.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The student loan company posted revenue of $607.6 million in the period. Its adjusted revenue was $405.1 million, also beating Street forecasts. Four analysts surveyed by Zacks expected $397.6 million.

Sallie Mae expects full-year earnings in the range of $1.23 to $1.24 per share.

Sallie Mae shares have increased almost 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.05, a decline of 12% 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 SLM at https://www.zacks.com/ap/SLM