Scholastic rises on higher revenue, operating income

Scholastic

22/07/2022 17:04

** Shares of Scholastic Corp  SCHL.O  up 8.6% at $40.07  
    ** Co posts Q4 revenue of $514.4 mln, an increase of 28%
year-over-year  urn:newsml:reuters.com:*:nPn6YCd0ha
    ** Co's Q4 operating income increases almost 7x to $65.5 mln
    ** Expects FY 2023 revenue to increase 8%-10% 
    ** Says has set an adj EBITDA target of $195 mln - $205 mln
for FY 2023, up from $188.9 mln in FY 2022 
    ** Anticipates the overall demand for independent reading
resources at home and in school to remain strong in 2023 
    ** As of last close, SCHL marginally higher YTD 
    

 (Reporting by Vansh Agarwal)
 ((Vansh.Agarwal@thomsonreuters.com;))