John Wiley & Sons 4Q Revenue Rises Amid AI, Learning Momentum

Dow Jones06-13

By Sabela Ojea

John Wiley & Sons said revenue rose in the fiscal fourth quarter amid a cost-cutting program and views to train AI and machine learning models.

The Hoboken, N.J., publisher of titles such as the For Dummies franchise on Thursday posted a net income for the three months ended April 30 of $25.3 million, or 46 cents a share, compared with $68.3 million, or $1.22 a share, for the same period a year earlier.

Stripping out one-time items, earnings per share came in at $1.21.

Revenue rose 11% to $468.5 million, the company said, noting that it's seeing strong demand for its research publications, as well as a continued outperformance in learning.

For the fiscal year, the company expects earnings per share of $3.25 to $3.60.

"We finished the year strong and head into Fiscal 2025 with full confidence in our Research trajectory, GenAI momentum, and profit and performance outlook," interim president and Chief Executive Matthew Kissner said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

June 13, 2024 07:52 ET (11:52 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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