SLM (SLM) swung to a profit in the second quarter.
Earnings and Revenue
The company experienced stronger-than-expected EPS and revenues. The company reported EPS of 59 cents a share versus the 54 cents a share estimate and revenues of $1.4 billion versus the $717.7 million estimate.
The company's profit for the quarter was $292 million. Revenue fell 3.9% from $1.05 billion in the same period last year.
Company Fundamental Trends
History Against Expectations
The company has now topped analyst estimates for the last three quarters.
"We continue to grow our private credit business and find productivity gains in challenging economic conditions," said Albert L. Lord, vice chairman and CEO. "We head into this academic year with loan products that promote and reward in-school payments. The performance of these loans over recent years foreshadows better credit ratings for our customers and lower defaults for Sallie Mae."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.