Scholastic Corporation stock price

Scholastic Corporation latest news:


  • 12/14/2017 07:42:25

    Harry Potter publisher Scholastic profit, sales fall from a year ago

    Scholastic Corp. , which publishes the "Harry Potter" series of books, reported fiscal second-quarter net income that fell to $57.1 million, or $1.60 a share, from $67.9 million, or $1.92 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.92, which compares with the estimate of one analyst surveyed by FactSet of $1.75 a share. Revenue declined to $598.3 million from $623.1 million, below the analyst's estimate of $601.4 million. Children's book and publishing and distribution revenue fell to $411.8 million from $432.5 million, which was expected given the release of "Harry Potter and the Cursed Child, Parts One and Two" and "Fantastic Beasts and Where to Find Themâ„¢: The Original Screenplay" a year ago, which was partially offset by the release of "Harry Potter and the Prisoner of Azkaban: The Illustrated Edition" this year. The company affirmed its fiscal 2018 revenue outlook of $1.65 billion to $1.70 billion and ongoing EPS outlook of $1.20 to $1.30. The stock, which rose 0.6% in morning trade, has lost 10.6% year to date, while the S&P 500 has gained 19.1%. (This replaces a previous item that incorrectly reported the 2018 revenue outlook.)Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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