{"id":65362,"date":"2023-09-25T20:14:59","date_gmt":"2023-09-26T00:14:59","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/scholastic-shares-dive-after-hours-on-worse-than-expected-quarterly-loss\/"},"modified":"2023-09-25T20:15:01","modified_gmt":"2023-09-26T00:15:01","slug":"scholastic-shares-dive-after-hours-on-worse-than-expected-quarterly-loss","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=65362","title":{"rendered":"Scholastic shares dive after hours on worse-than-expected quarterly loss"},"content":{"rendered":"
\n

An earlier version of this article misstated the fiscal quarter being reported in the first sentence. <\/p>\n

\n

Shares of Scholastic Corp.
\n SCHL,
\n +7.01%<\/bg-quote>
\n slid 12.7% after hours on Thursday after the children\u2019s book publisher reported a worse-than-expected quarterly loss and held to its full-year outlook. The company reported a fiscal first-quarter net loss of $74.2 million, or $2.35 a share, compared with a loss of $45.4 million, or $1.33 a share, in the same quarter last year. Revenue fell to $228.5 million from $262.9 million in the prior-year quarter. Scholastic\u2019s adjusted loss per share was $2.20. Analysts polled by FactSet expected Scholastic to report an adjusted loss of $1.35 a share, on revenue of $268.8 million. Management attributed the results to the summer school break, when the company typically loses money, and \u201cthe timing of revenues from state-sponsored programs.\u201d Scholastic said it expected full-year sales to benefit from fall releases like a new installment of Dav Pilkey\u2019s \u201cCat Kid Comic Club,\u201d an interactive MinaLima edition of\u00a0\u201cHarry Potter\u00a0and the Prisoner of Azkaban,\u201d\u00a0and the release of the \u201cGoosebumps\u201d TV series on Disney+ and Hulu. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

An earlier version of this article misstated the fiscal quarter being reported in the first sentence. Shares of Scholastic Corp. SCHL, +7.01% slid 12.7% after hours on Thursday after the children\u2019s book publisher reported a worse-than-expected quarterly loss and held to its full-year outlook. The company reported a fiscal first-quarter net loss of $74.2 million, […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-65362","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nScholastic shares dive after hours on worse-than-expected quarterly loss | iFintechWorld<\/title>\n<meta name=\"description\" content=\"An earlier version of this article misstated the fiscal quarter being reported in the first sentence. Shares of Scholastic Corp. 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