Navient: Q4 Earnings Snapshot
HERNDON, Va. (AP) — HERNDON, Va. (AP) — Navient Corp. (NAVI) on Wednesday reported a loss of $5 million in its fourth quarter.
On a per-share basis, the Herndon, Virginia-based company said it had a loss of 6 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to 39 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The student loan servicing company posted revenue of $765 million in the period. Its adjusted revenue was $129 million, missing Street forecasts. Three analysts surveyed by Zacks expected $133.4 million.
For the year, the company reported a loss of $80 million, or 81 cents per share. Revenue was reported as $551 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NAVI at https://www.zacks.com/ap/NAVI