Scholastic Corp. shares fell 9.9% to $31.38 in premarket trading after the company reported first-quarter results that missed analyst estimates. A subsequent market update cited a quarterly loss of $3.63 per share, compared with the $3.40 consensus, and sales of $216.8 million versus expectations of $224.689 million. The reported GAAP figures showed a $93.7 million net loss, or $3.77 per diluted share, compared with a $97 million loss, or $2.83 per share, in the prior-year quarter. Revenue declined 4% from $225.6 million, while Adjusted EBITDA worsened to negative $63.6 million from negative $55.7 million. Education revenue fell amid pressure on school and district funding, while Entertainment revenue increased. Scholastic maintained its fiscal 2027 guidance for revenue growth of approximately 2% to 4%, Adjusted EBITDA of approximately $135 million to $145 million and free cash flow of approximately $35 million to $40 million.