Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Wiley shares surge 12% after posting better-than-expected Q1 results

EditorRachael Rajan
Published 06/13/2024, 07:52 PM
© Reuters.
WLY
-

HOBOKEN, N.J. - Shares of John Wiley & Sons, Inc. (NYSE: WLY) soared 12.39% following the release of their first quarter earnings, which exceeded analyst expectations. The publisher reported an impressive Q1 adjusted EPS of $1.21, significantly outperforming the analyst estimate of $0.81. Revenue also surpassed forecasts, coming in at $468.46 million against the anticipated $438.7 million.

The company's robust performance is attributed to their confident outlook for FY2025, with projected EPS in the range of $3.25 to $3.60, comfortably ahead of the consensus estimate of $3.10. Revenue forecasts for FY2025 are set between $1.65 billion and $1.69 billion, aligning with analysts' expectations of $1.652 billion.

Matthew Kissner, Interim President and CEO, expressed optimism about the company's direction, citing strong demand in Research and Learning as well as significant interest in Wiley's content for training AI and machine learning models. The company's disciplined execution has led to exceeding earnings guidance and accelerating cost savings, positioning Wiley for continued margin expansion and robust cash generation.

The company's transition year saw strategic divestitures and restructuring, leading to a reported GAAP revenue decline of 11% YoY. However, the adjusted results at constant currency showed a 4% increase in revenue, a 7% rise in adjusted EBITDA, and a 2% growth in adjusted EPS. Wiley's Learning segment, in particular, benefited from a $23 million content rights project for GenAI large language models, contributing to an 18% increase in revenue for the quarter.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.