SCHL - Scholastic's Q2 Earnings And Outlook Disappoint - Stock Tumbles After-Hours | Benzinga
Scholastic Corporation (NASDAQ: SCHL) shares are trading lower in Thursday's after-hours session following the company's worse-than-expected second-quarter financial results. Here's a summary.
What To Know: Scholastic reported adjusted quarterly earnings of $2.45 per share, missing the Street's estimate of $2.65, an increase of 16% compared to the same period last year.
Quarterly revenue of $562.60 million also fell below analyst expectations of $625.22 million, representing a decline of 4% compared to the same period last year.
While revenues decreased, mainly due to "reduced, more targeted promotional spending and the elimination of unprofitable orders in Book Clubs," profits improved, with operating income growing $1.2 ...