Why Scholastic Corporation Stock Just Crashed 13%

Shares of Scholastic Corporation (NASDAQ: SCHL) are crashing in early morning trading Friday, down 13% as of 10 a.m. EST after the children's book publisher missed earnings in its second-quarter 2021 earnings report released yesterday.

Analysts had forecast that Scholastic would earn a $1.38 per share adjusted profit on sales of $528 million, but as it turned out Scholastic earned only $1.15, and sales were just $406.2 million.  

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Source Fool.com