Looks like the Hunger Games book sales are helping to raise Scholastic’s shares.
According to a report from Deadline :
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.
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