Sallie Mae reported second-quarter revenue of $332.82 million, an 11.7% decline from a year ago and 6.31% below the Zacks Consensus Estimate of $355.22 million. Earnings per share came in at $0.29, down from $0.32 a year earlier and missing the consensus estimate of $0.46 by nearly 37%. Net interest margin was 4.8%, below the 5.1% analysts had projected, while net interest income of $332.82 million fell short of the $355.48 million estimate. Gains on sales of loans, net, reached $14.94 million, exceeding the $10.57 million estimate, and total non-interest income of $68.29 million topped the $56.98 million consensus. Shares have returned 5.8% over the past month, outperforming the S&P 500's 0.4% gain, and the stock carries a Zacks Rank of 3, or Hold.
SLM CorpQ2 revenue and EPS missed estimates significantly, with net interest margin below projections.