SLM Corp. Q2 Profit Decreases, but beats estimates

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

The company's bottom line totaled $261 million, or $1.10 per share. This compares with $340 million, or $1.29 per share, in last year's second quarter.

Excluding items, SLM Corp. reported adjusted earnings of $261 million or $1.10 per share for the period.

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

SLM Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $261 Mln. vs. $340 Mln. last year. -EPS (Q2): $1.10 vs. $1.29 last year. -Analyst Estimates: $1.07

-Guidance: Full year EPS guidance: $2.50 - $2.70