Modest Revenue Growth
Scholastic achieved modest revenue growth of 4% to $335.4 million in the third quarter, driven by strong performance in the Children's Books segment and the addition of 9 Story Media Group.
Successful Children's Books Segment
Revenues and profits increased in the Children's Book Publishing and Distribution segment, with Book Fairs revenues up 8% and Book Clubs revenues up 14%.
Record Sales of New Releases
The 13th book in Dav Pilkey's Dog Man series sold almost 2.5 million copies globally, contributing significantly to the Trade Publishing division's success.
Dividend and Share Repurchase
Returned over $35 million to shareholders through dividends and share repurchases in the third quarter.
International Segment Growth
Revenues and profits increased in major markets including Canada, the U.K., and New Zealand.
Strong YouTube Engagement
Scholastic content on YouTube saw nearly 10 million views last month, up almost 40x from a year ago.