Shares of children’s publishing, education and media company, Scholastic Corporation (SCHL) are falling more than 20% Friday morning after the company reported wider loss in the third quarter.
Scholastic reported net loss of $19.2 million or $0.57 per share in the third quarter, wider than $15.3 million or $0.44 per share in the same quarter a year ago. Excluding one-time items, loss was $26.2 million.
Quarterly revenue decreased to $324.9 million from $344.5 million last year.
Looking forward to the full year, the company expects revenue to grow about 4%, lower than the previous range of 8%-10%.
SCHL, currently at $33.05, has traded in the range of $28.22-$48.28 in the last 1 year.
Source: Read Full Article
-
Weibo Shares Drop After Pricing ADS Offering
-
Johnson & Johnson Rises On Upbeat Quarterly Results, Outlook
-
Formerly Crypto-Skeptic CEO Now Sees Bitcoin as 'Digital Gold'
-
Driving Bitcoin's Surge: MicroStrategy Founder on Education, Adoption, and Policy Impact
-
Standard Chartered Sees Bitcoin Breaking 2024 With A Mind-Blowing BTC Moonshot To $100,000 Price