Wiley revenues rise 6% in 2021 after fourth quarter sales surge

Wiley revenues rise 6% in 2021 after fourth quarter sales surge

Wiley saw its revenues rise 6% in the 2021 fiscal year, boosted by a fourth quarter sales surge of 13%.

The academic publisher's results for the year ending 30th April 2021 showed revenue hit $1.9bn (£1.3bn) from $1.8bn the year before with an operating income of $185.5m (£131m), rising from a $54.3m (£38.3m) loss 12 months earlier.

Wiley had a particularly strong fourth quarter with revenues of $536m (£378m), up 13% on the same period in 2020, and an operating income of $51.2m (£36.1m).

Revenue growth was driven by its research publishing and platforms division, up by 7%, and a 21% rise for education services. This was partially offset by a 1% decline in academic and professional learning.

The company said its digital products and tech-enabled services now made up 82% of total revenue, slightly up from 80% a year ago.

Brian Napack, president and c.e.o., said: “Fiscal 2021 was a good year for Wiley as our growth strategies in open research and career-connected education took firm root and benefited from long-term trends pulled forward by Covid. These positive market dynamics, combined with great execution in a very complex time, resulted in a strong performance and increasing momentum. In the face of historic challenges, Wiley continued to help researchers and learners pursue their critical journeys of discovery and growth.”

The company also predicted a bright outlook for the coming year, with revenue expected to exceed $2bn for the first time and organic growth in all segments.