Scholastic stock jumps 6% as publishing company calls for up to 5% revenue growth for the year

Shares of Scholastic Corp.

rallied more than 6% in the extended session Thursday after the publishing company reported better-than-expected fiscal fourth-quarter profit and said it expects up to 5% revenue growth for the year. Scholastic said it earned $76 million, or $2.26 a share, in the quarter, compared with $52 million, or $1.46 a share, in the year-ago quarter. Revenue rose 3% to $529 million, the company said, mostly as its children’s book publishing and distribution and book fairs businesses grew.

rallied more than 6% in the extended session Thursday after the publishing company reported better-than-expected fiscal fourth-quarter profit and said it expects up to 5% revenue growth for the year. Scholastic said it earned $76 million, or $2.26 a share, in the quarter, compared with $52 million, or $1.46 a share, in the year-ago quarter. Revenue rose 3% to $529 million, the company said, mostly as its children’s book publishing and distribution and book fairs businesses grew.

Source: News Formal (newsformal.com)

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