The book publisher’s stock price rocketed 19% on heavier than usual trading this morning after it reported that sales of The Hunger Games trilogy contributed to startlingly strong results for the quarter that ended in February. Scholastic had a net loss of $3.2M, an improvement from last year’s $25.1M loss, on revenues of $467.0M, up 21.5%. The figures may lead analysts to tear up their spreadsheets: The Street expected revenues of just $393M. Meanwhile, the company’s net loss of 10 cents a share contrasted with the consensus forecast of a 70 cent loss. Sales for Suzanne Collins’ Hunger Games “reached a high point in the quarter, ahead of next week’s highly anticipated movie release,” CEO Richard Robinson said. Another movie, Hugo, also helped to propel sales of the book on which it was based, The Invention Of Hugo Cabret by Brian Selznick.
Scholastic Shares Soar After Earnings Feast On 'Hunger Games'
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