Sallie Mae: Q1 Earnings Snapshot

April 27, 2022 GMT

NEWARK, Del. (AP) _ SLM Corp. (SLM) on Wednesday reported first-quarter net income of $128.8 million.

On a per-share basis, the Newark, Delaware-based company said it had profit of 45 cents. Earnings, adjusted for one-time items, came to 46 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The student loan company posted revenue of $487 million in the period. Its adjusted revenue was $375 million.

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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