Scholastic shares dive after hours on worse-than-expected quarterly loss

Shares of Scholastic Corp. SCHL slid 12.7% after hours on Thursday after the children’s book publisher reported a worse-than-expected loss for the second quarter and held to its full-year outlook. The company reported a fiscal first-quarter net loss of $74.2 million, or $2.35 a share, compared with a loss of $45.4 million, or $1.33 a share, in the same quarter last year. Revenue fell to $228.5 million from $262.9 million in the prior-year quarter. Scholastic’s adjusted loss per share was $2.20. Analysts polled by FactSet expected Scholastic to report an adjusted loss of $1.35 a share, on revenue of $268.8 million. Management…