Navient Q2 Profit Declines

(RTTNews) - Navient Corp. (NAVI) posted second-quarter net income attributable to the company of $307 million or $0.71 per share, compared to $543 million or $1.20 per share in the comparable quarter last year.

Core income attributable to the company declined to $241 million or $0.56 per share from $447 million or $1.00 per share in the prior year quarter.

Net interest income for the latest second quarter was $662 million, down from $784 million last year, while total other income declined to $275 million from $490 million in the year-ago period.

On average, analysts polled by Thomson Reuters expected the company to earn $0.54 per share on revenues of $562.50 million. Analysts' estimates typically exclude special items.