Scholastic gains as Q4 profit jumps

Scholastic

20/07/2023 23:17

** Shares of publishing firm Scholastic Corp  SCHL.O  jump
8.1% to $43.01 after market
    ** Co Q4 adjusted EBITDA rises 30% to $115 mln, boosted by
growth across segments, particularly children's books 
    ** SCHL expects fiscal 2024 revenue growth between 3% and 5%
compared with a 4% rise in year-to-date FY23 revenue 
    ** Says it will focus on protecting margins and sustaining
growth in fiscal 2024
    ** Stock flat YTD
    

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))