WASHINGTON (dpa-AFX) - Sallie Mae (SLM), formally SLM Corporation, reported fourth-quarter non-GAAP core earnings per share of $0.33 compared to $0.31, prior year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.3, for the quarter. Analysts' estimates typically exclude special items.
Fourth-quarter net interest income was $419 million, up 9% from prior year. Analysts expected revenue of $413.54 million, for the quarter.
For 2020, the company expects core earnings per share of $1.85 - $1.91. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.32.
The company expects to sell approximately $3 billion in loans in 2020, dependent upon market conditions. It has been authorized to repurchase up to $600 million in common stock in 2020, under a new share repurchase program, which is effective immediately and expires on Jan. 21, 2022.
Shares of SLM Corporation were up 17% after hours.
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