Sallie Mae's (SLM) Q1 Earnings Beat Estimates, Expenses Rise

Sallie Mae’s (SLM) , formally SLM Corporation, first-quarter 2024 earnings per share of $1.27 surpassed the Zacks Consensus Estimate of$1.09. The bottom line compared favorably with the prior-year quarter’s 47 cents.Lower provisions for credit losses, robust loan originations and higher non-interest income were positives. However, a decline in the net interest income (NII) and a rise in non-interest expenses impeded the results.The company’s GAAP net income was $290 million compared with$119 million in th ...