UPDATE: Scholastic Reports Upbeat Q2 Profit

Scholastic Corp SCHL reported an upbeat second-quarter profit from continuing operations. Scholastic's quarterly earnings from continuing operations climbed to $82.8 million, or $2.60 per share, from $74.9 million, or $2.14 per share, in the year-ago period. Its revenue surged 3% to $685.3 million. However, analysts were expecting earnings of $2.33 per share on revenue of $684.7 million. Scholastic shares gained 1.86% to close at $25.68 yesterday.