With all three of its operating segments posting increases, John Wiley & Sons reported that revenue for the second quarter ended October 31, 2021, rose 9% over last year, to $533 million, and operating income increased 6%, to $73.9 million.

Revenue in Wiley’s largest segment, research publishing and platforms, rose 9% in the quarter, to $275.1 million. The company attributed the bump to acquisitions, as well as strong growth in open access, corporate solutions, and research platforms.

The academic and professional learning group had a 4% increase in sales, to $176.6 million. Revenue in the group’s professional learning unit rose 16%, to $78 million, which reflected a bounce back from the negative impact of Covid-19 lockdowns last year, Wiley said. The increase offset a 4% decline in education publishing, to $98.6, which Wiley attributed to “softer U.S. enrollment and some easing of a bump in content and courseware sales because of Covid,

Sales in Wiley’s third group, education services, increased 17%, to $81.3 million, driven by 3% growth in university services and strong double-digit growth in talent development.

For the first six months of fiscal 2022, operating income was up 14.9%, to $114.8 million, on a 10.7% increase in sales, to $1.02 billion. For the full year, Wiley said it expects sales to rise between 6.6% and 8% with adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) either falling or rising slightly.

Source link

Review Overview

Summary

Leave a Reply

Your email address will not be published. Required fields are marked *