Global publishing company John Wiley & Sons has reported net income of $68.4 million for the second quarter of its 2021 fiscal year ending 31 October 2020, up from $44.7 million reported for the second quarter of fiscal year 2020.
Net revenue for the quarter was $491 million, up 5% from $466.2 million reported for the second quarter of fiscal year 2020.
The Hoboken, New Jersey-based company also reported results for the first six months of its 2021 fiscal year. Net income was $84.8 million, up from $48.3 million reported for the first six months of fiscal year 2020. Net revenue for the period was $922.3 million, up from $889.7 million reported for the first six months of fiscal year 2020.
Wiley stated that its revenue for education publishing was marginally ahead of the prior year as accelerated growth in digital content and courseware more than offset the decline in print books.
John Wiley & Sons president and chief executive Brian Napack said: “Wiley’s consistent strategies in open research and online education continued to deliver strong returns with record research output and content consumption, robust online enrolment growth, and broad digital courseware adoption. The pandemic is accelerating important trends underlying our core strategies, including a global increase in the demand to publish and access high-quality research and a decisive shift to online learning and digital curriculums.”
Date published: 10 December 2020