Scholastic shares plummet on worse-than-expected Q1 earnings.

Scholastic Corporation (NASDAQ: SCHL) reported a drop in revenue and a growing loss for the first quarter of fiscal 2024, causing shares to tumble more than 12% in after-hours trading. The children's book publisher's fiscal first-quarter net loss of $74.2 million was worse than expected, and revenue of $228.5 million missed Wall Street estimates. The company's stock is falling due to these disappointing results.

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