Nelnet (NNI) reported Q1 adjusted earnings late Thursday of $2.39 per diluted share, up from $1.81 a year earlier.

One analyst surveyed by FactSet expected $1.92.

Revenue for the quarter ended March 31, expressed as the sum of net interest income and total other income, was $398.5 million, up from $385.1 million a year earlier.

One analyst surveyed by FactSet expected $393.3 million, if comparable.

The company kept its quarterly dividend at $0.28 per share, payable June 16 to holders of record June 2.

The company said it also authorized a three-year stock repurchase program to buy back up to 5 million Class A shares. The new program includes the remaining unpurchased shares from the prior repurchase program.