Scholastic falls after lower Q1 revenue, higher loss

Scholastic

21/09/2023 21:34

** Shares of publisher and distributor of children's books
Scholastic  SCHL.O  down 12.3% at $34.18 after the bell
    ** Co posts lower Q1 revenue, reflecting continued retail
softness 
    ** Revenue decreases 13% to $228.5 mln from the year-ago
period 
    ** The company typically generates an operating loss in the
first quarter, when schools are not in session - Scholastic
    ** Excluding one-time items, Q1 operating loss was $92.8
mln, up from $58.1 mln last year 
    ** As of last close, stock down ~1% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))