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December 7, 2022By Katy Hershberger

Wiley Aims to Reduce Costs as Earnings Fell in Q2

December 7, 2022By Katy Hershberger

Wiley released its earnings report for the second quarter ended October 31, with sales of $515 million, down 3 percent from last year. Operating income was down 22 percent to $57.4 million, and adjusted EBITDA fell 3 percent to $123.8 million. Net income was $38.2 million, compared to $55.9 million in the prior year. Earnings declined in part due to $14 million in restructuring charges “related to workforce actions and real estate optimization.” In a presentation to investors on Wednesday, the company said it is “accelerating [a] cost reduction program, including targeted workforce actions, general hiring freeze, real estate optimization, […]

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Filed Under: Earnings Reports, Publishers

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