Wiley reported second quarter results with revenue of $422 million, operating income up 14%, and diluted EPS up 14% compared to the prior year.
Adjusted revenue was $422 million, down 1% with solid Research growth offsetting declines in Learning.
The company executed a $6 million content licensing project for AI model training and achieved a 69% increase in share repurchases over the prior year period.
Strong Research Performance
Research revenue grew by 6% in the second quarter, driven by global demand and AI revenue of $5 million.
Margin Expansion Initiatives
Adjusted EBITDA margin improved to 27.3%, up 240 basis points, showcasing Wiley's focus on operational excellence.
AI Impact
The company is capitalizing on AI opportunities, with content licensing projects contributing significantly to revenue growth.
- Wiley's Research segment saw robust growth with a 6% increase in revenue driven by expanding author-funded open access and recurring revenue models.
- Learning segment experienced a decline of 11% in revenue attributed to market-related softness, but stabilization is expected in the second half of the year.
- Corporate Expenses were effectively managed, with an 18% reduction in Q2, showcasing Wiley's commitment to cost optimization.
Overall, Wiley's strategic focus on Research growth, AI initiatives, and margin expansion has proven successful in driving financial performance and shareholder value.