Global publishing company John Wiley & Sons has reported net income of $22.2 million for the third quarter of its 2021 fiscal year ending 31 January 2021, down from $35.4 million reported for the third quarter of fiscal year 2020.
Revenue for the quarter was $482.9, up 3% from $467.1 million reported for Q3 2020.
The Hoboken, New Jersey-based company also reported results for the first none months of its 2021 fiscal year. Net income was $106.9 million, up from $83.8 million reported for the first nine months of fiscal year 2020. Net revenue for the period was $1.41 billion, up from $1.36 billion reported for the first nine months of fiscal year 2020.
John Wiley & Sons president and chief executive Brian Napack said: “Wiley’s strategic focus and solid execution in open research and online education continue to yield strong results. During the quarter, we accelerated our research growth strategy with the acquisition of Hindawi, a rapidly-growing leader in open access publishing, and we strengthened the Wiley network with new university and corporate partners for online degree and talent development services.”
Date published: 5 March 2021