Scholastic Lifts FY Profit Outlook on Strength of Hunger Games

Scholastic Corp., a U.S. publisher of children's books, Monday lifted its earnings guidance for the fiscal year 2012, due mainly on stronger-than-anticipated sales of The Hunger Games trilogy.

The increase in sales were fueled by March release of Lions Gate Entertainment Corp.'s movie based on the book. Thus far, the first film in the series has been a box office smash, raking in $530 million at box offices worldwide.