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Jan 31, 2023
Wiley Q3 2023 Earnings Report
Wiley's Q3 2023 earnings were impacted by market headwinds and a publishing pause, leading to a revised full-year outlook.
Key Takeaways
Wiley's Q3 2023 results were below expectations due to market headwinds and a publishing pause in a Hindawi special issues program. Revenue decreased by 5% to $491 million, and the company reported an operating loss of $67 million and an EPS loss of $1.29. The company is accelerating simplification and optimization efforts to improve margins.
Revenue decreased by 5% compared to the prior year, totaling $491 million.
Operating loss was $67 million, a decrease of $113 million compared to the prior year.
EPS loss was $1.29, a decrease of $1.92 compared to the prior year.
Adjusted EPS was $0.85, down 9% compared to the prior year.
Revenue by Segment
Forward Guidance
Wiley is reducing its financial outlook at constant currency due to increased Academic market headwinds and the publishing pause in Hindawi special issues. Adjusted EPS is further impacted by higher interest expense.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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