Wiley full-year revenues break $2bn mark for first time

Wiley’s revenues broke the $2bn barrier for the first time in the 2022 fiscal year, while operating income soared 18%.

Results for the year ending 30th April 2022 showed revenue of $2.1bn (£1.7bn), up 7% from $1.9bn (£1.6bn) the previous year. The academic publisher had operating income of $219.3m (£178.8m), rising 18% from 2021’s $185.5m (£151.3m).

Revenue growth was driven by its research publishing and platforms division, which was up by 9%, and a 14% rise for education services. There was more modest 1% growth at its academic and professional learning division.

The company’s digital products and tech-enabled services contributed 83% of total revenue.

"Wiley delivered another solid year in fiscal 2022 as we materially accelerated organic growth, delivered on our financial targets, and surpassed $2bn in revenue for the first time," said Brian Napack, president and c.e.o. "Our consistent strategy to lead in open scientific research and career-connected education, our strong cashflow, and our dedication to operational excellence position us well for the future."

Looking ahead, the company expects mid-single-digit revenue growth at constant currency, driven by its research and education services. Gains from revenue growth are forecast to be offset by "wage inflation and growth investments in research and corporate talent development".