Scholastic Corporation (SCHL) Reports Q1 Loss, Misses Estimates

Scholastic Corporation (SCHL) reported a first-quarter loss that increased from last year, coming in at -$71.10 million or -$2.83 per share, missing Street estimates. Adjusted earnings were -$63.30 million or -$2.52 per share, below analysts’ expectations of -$2.41 per share. Revenue for the period dropped 4.9% to $225.60 million from $237.20 million last year. Earnings at a glance show a decrease in revenue and an increase in losses compared to the previous year.