John Wiley & Sons Rallies On Brighter Outlook, AI Potential -- MarketWatch

Dow Jones06-13

John Wiley & Sons stock $(WLY)$ was rallying by 15% in premarket trades Thursday after the book publisher's fourth-quarter results came in ahead of analyst estimates. The company also projected stronger-than-expected adjusted 2025 earnings and said it's "seeing significant interest in leveraging our authoritative content to train AI and machine learning models." John Wiley said its fourth-quarter net income dropped to $25.27 million, or 46 cents a share, from $68.34 million, or $1.22 a share, in the year-ago period. Adjusted fourth-quarter earnings of $1.21 a share beat the analyst estimate of 81 cents a share. Fourth-quarter revenue fell to $468.5 million from $526.1 million, but beat the FactSet consensus estimate of $438.7 million. John Wiley expects adjusted fiscal 2025 earnings of $3.25 to $3.60 a share, ahead of the FactSet consensus estimate of $3.10 a share.

-Steve Gelsi

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June 13, 2024 08:40 ET (12:40 GMT)

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