Shares of Nelnet (NYSE:NNI) rose in after-market trading after the company reported Q1 results.
Earnings per share increased 293.55% over the past year to $2.44, which beat the estimate of $1.79.
Revenue of $340,442,000 rose by 38.56% year over year, which beat the estimate of $299,180,000.
Earnings guidance hasn't been issued by the company for now.
Nelnet hasn't issued any revenue guidance for the time being.
Recent Stock Performance
Company's 52-week high was at $78.36
52-week low: $41.50
Price action over last quarter: Up 3.64%
Nelnet Inc holds student loans and engages in student loan servicing and tuition payment processing. The majority of company revenue is interest income from the student loans the company holds. Nelnet holds student loans that it originated under the Federal Family Education Loan Program before 2010. Because of the Health Care and Education Reconciliation Act of 2010, which authorized only the federal government to originate these loans, Nelnet cannot originate new student loans, but it can and does purchase existing loans from other lenders. Virtually all other company revenue comes from fees it earns by servicing student loans owned by itself and others, including the government, and tuition payment processing for over 1200 colleges and universities as well as nearly 11,000 K-12 schools.