SLM Corp. Q1 adjusted earnings Beat Estimates

SLM Corp. (SLM) released a profit for its first quarter that rose from last year.

The company's bottom line totaled $640.01 million, or $1.75 per share. This compares with $358.71 million, or $0.87 per share, in last year's first quarter.

Excluding items, SLM Corp. reported adjusted earnings of $648.24 million or $1.77 per share for the period.

Analysts had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 17.2% to $331.11 million from $400.12 million last year.

SLM Corp. earnings at a glance:

-Earnings (Q1): $648.24 Mln. vs. $326.73 Mln. last year.
-EPS (Q1): $1.77 vs. $0.79 last year.
-Analysts Estimate: $1.07
-Revenue (Q1): $331.11 Mln vs. $400.12 Mln last year.

Full year EPS guidance: $2.95 - $3.15.

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