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Navient: Q1 Earnings Snapshot
By AP News - Apr 26, 2023, 06:30 AM ET
Last Updated - Jun 22, 2023, 03:47 AM EDT
WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Navient Corp. (NAVI) on Wednesday reported first-quarter profit of $111 million.
On a per-share basis, the Wilmington, Delaware-based company said it had profit of 86 cents. Earnings, adjusted for non-recurring costs, came to $1.06 per share.
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The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The student loan servicing company posted revenue of $1.16 billion in the period. Its adjusted revenue was $253 million, also beating Street forecasts. Four analysts surveyed by Zacks expected $230.7 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a NAVI">Zacks stock report on NAVI at https://www.zacks.com/ap/NAVI
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