HERNDON, Va. (AP) 鈥� HERNDON, Va. (AP) 鈥� Navient Corp. (NAVI) on Thursday reported second-quarter net income of $25 million.
On a per-share basis, the Herndon, Virginia-based company said it had net income of 26 cents. Earnings, adjusted for non-recurring costs, came to 29 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The student loan servicing company posted revenue of $710 million in the period. Its adjusted revenue was $120 million, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $129.1 million.
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