SLM Corp. Q4 Profit Decreases, but beats estimates

(RTTNews) - SLM Corp. (SLM) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $305 million, or $1.04 per share. This compares with $431 million, or $1.13 per share, in last year's fourth quarter.

Excluding items, SLM Corp. reported adjusted earnings of $306 million or $1.05 per share for the period.

Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.3% to $367.66 million from $366.54 million last year.