WASHINGTON (dpa-AFX) - SLM Corp. (SLM) released a profit for its first quarter that increased from last year and beat the Street estimates.
The company's bottom line came in at $285 million, or $1.27 per share. This compares with $114 million, or $0.47 per share, in last year's first quarter.
Analysts on average had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 4.4% to $387 million from $405 million last year.
SLM Corp. earnings at a glance (GAAP) :
-Earnings (Q1): $285 Mln. vs. $114 Mln. last year. -EPS (Q1): $1.27 vs. $0.47 last year. -Revenue (Q1): $387 Mln vs. $405 Mln last year.
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