Wiley reports steady revenue, reaffirms full year forecast
Digital book sales strong in Q3 of its fiscal 2014 year with double digit growth in Research segment
The professional and education publisher John Wiley & Sons reported earnings for its third quarter of its 2014 fiscal year this morning. The publisher reports steady revenue of $458 million, up 1 percent on a constant currency basis.
Especially strong were digital book sales, with the Research segment reporting 12 percent growth and Professional Development reporting 9 percent revenue growth in digital books. Print book sales were down in both segments, however.
“Through three quarters, research journal performance has been favorable, with 4% revenue growth in journal subscriptions, strong revenue growth in author-funded open access, and a solid start to subscription billings for volume year 2014,” said Steve Smith, President and CEO of Wiley. “In addition, professional and education solutions, including talent management, WileyPLUS, and online program management, continue to show strong double-digit revenue growth.”