Sallie Mae (SLM), SLM Corp., Wednesday said first-quarter profit surged to $346 million or $0.74 per share from $112 million or $0.21 per share in the same period last year.
Core earnings attributable to the company totaled $283 million, down slightly from $284 million last year. On a per-share basis, core earnings improved to $0.61 from $0.55 last year.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.59 per share for the quarter. Analysts' estimates typically exclude special items.
Net-interest income dropped to $795 million from $811 million last year. Other income totaled $90 million, up from $40 million last year.
Looking ahead, the company projects full-year 2013 core earnings at $2.49 per share, inclusive of the contributions from the two FFELP loan securitization trust residual sales in 2013. Analysts currently expect the company to report full-year earnings of $2.35 per share.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.