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HERNDON, Va. (AP) — HERNDON, Va. (AP) — Navient Corp. (NAVI) on Wednesday reported a loss of $2 million in its first quarter.
On a per-share basis, the Herndon, Virginia-based company said it had a loss of 2 cents. Earnings, adjusted for non-recurring costs, came to 28 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The student loan servicing company posted revenue of $828 million in the period. Its adjusted revenue was $144 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $134.1 million.
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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