The shares of Scholastic Corp. (SCHL, +1.70%) rose more than 6% during the extended session on Thursday after the company announced a better-than expected fiscal fourth quarter profit and stated that it anticipates revenue growth up to 5% for the entire year. Scholastic reported a $76 million profit, or $2.26 per share, for the fourth quarter. This compares to $52 million or $1.46 per share in the previous quarter. The company reported that revenue rose by 3%, to $529 millions, mainly due to growth in its book fairs and children’s publishing and distribution businesses. FactSet polled analysts who expected earnings per share of $1.70 for sales of $542 millions. The board of directors authorized $100 million in additional share buybacks. Scholastic expects revenue growth in fiscal 2024 of between 3% and 5%. It also targets adjusted EBITDA for fiscal year of between $190 million and $200 million. The publisher stated that the company was executing a long-term strategy in order to create shareholder value, as well as protecting margins, and to sustain growth. Scholastic shares ended their regular trading day 1.7% lower.