Nelnet (NNI) Misses Q2 EPS by 15c

Nelnet (NYSE: NNI) reported Q2 EPS of $1.13, $0.15 worse than the analyst estimate of $1.28.

"While we are pleased with our operating results for the quarter, we are focused on the future and the many opportunities we have to grow and diversify our core fee-based businesses," said Jeff Noordhoek, Chief Executive Officer of Nelnet. "We are excited by the steady growth of our payment processing segment, the opportunity to partner to respond to the Department's servicing procurement process, and by the reception for ALLO's communication products in existing and new markets. The early success of ALLO, which increases our near term expenses, and an aberration in short-term interest rates did impact our earnings this quarter. However, we believe the future is bright and continue to look for strategic investments to deploy capital inside and outside our existing businesses that will generate substantial value over the long term."

For earnings history and earnings-related data on Nelnet (NNI) click here.

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