NEWARK, Del. (AP) _ SLM Corp. (SLM) on Wednesday reported fourth-quarter net income of $306.3 million.

On a per-share basis, the Newark, Delaware-based company said it had profit of $1.04. Earnings, adjusted for non-recurring costs, came to $1.05 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The student loan company posted revenue of $611.2 million in the period. Its adjusted revenue was $367.4 million.

For the year, the company reported profit of $1.16 billion, or $3.61 per share. Revenue was reported as $1.39 billion.

Sallie Mae expects full-year earnings in the range of $2.80 to $3 per share.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLM at https://www.zacks.com/ap/SLM

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