Nelnet, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
February 27, 2024 at 04:28 pm EST
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Nelnet, Inc. reported earnings results for the fourth quarter ended December 31, 2023. For the fourth quarter, the company reported net loss was USD 8.55 million compared to net income of USD 30.77 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to basic earnings per share from continuing operations of USD 0.83 a year ago.
Nelnet, Inc. operates businesses that are engaged in loan servicing and education technology services and payments. The Company's segments include Loan Servicing and Systems (LSS), Education Technology Services and Payments (ETSP), Asset Generation and Management (AGM), and Nelnet Bank. The LSS segment is focused on student and consumer loan servicing, loan servicing-related technology solutions and outsourcing business services. This segment includes the brands Nelnet Diversified Solutions, Nelnet Government Services and others. The ETSP segment provides education and payment technology and services for K-12 schools, higher education institutions, churches, and businesses in the United States and internationally. The AGM segment includes the acquisition and management of student and other loan assets, including investment interests therein. The Nelnet Bank includes an Internet Utah-chartered industrial bank focused on the private education and unsecured consumer loan markets.