AP NEWS

Sallie Mae: 4Q Earnings Snapshot

January 22, 2020 GMT

NEWARK, Del. (AP) _ SLM Corp. (SLM) on Wednesday reported fourth-quarter earnings of $141.4 million.

The Newark, Delaware-based company said it had profit of 32 cents per share. Earnings, adjusted for non-recurring costs, were 33 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The student loan company posted revenue of $596.6 million in the period. Its adjusted revenue was $419.1 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $411.7 million.

For the year, the company reported profit of $578.3 million, or $1.30 per share. Revenue was reported as $1.62 billion.

Sallie Mae expects full-year earnings in the range of $1.85 to $1.91 per share.

Sallie Mae shares have climbed 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.09, a fall of 3% in the last 12 months.

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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 SLM at https://www.zacks.com/ap/SLM