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Nelnet reports lower third-quarter earnings
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Nelnet reports lower third-quarter earnings

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Nelnet reported third-quarter earnings that were lower than a year ago.

Nelnet saw its third-quarter income decline significantly from a year ago.

The Lincoln-based financial services company said it earned net income of $53.1 million, or $1.38 per share, for the third quarter, compared with $71.5 million, or $1.86 per share, for the same period a year ago.

After making derivative market value adjustments, the company's income was $47.6 million, or $1.23 per share, down $68.9 million, or $1.79 per share, for the third quarter of 2020.

Nelnet said the third quarter results include a $14.2 million impairment in the value of real estate assets because most employees continue to work at home.

Nelnet CEO Jeff Noordhoek said in a news release that the company's core businesses businesses "delivered solid operating results in the third quarter."

Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

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Business reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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