Publishing Company Wiley's Stock Surges As Q1 Beat Expectations
Portfolio Pulse from Akanksha Bakshi
John Wiley & Sons Inc (NYSE:WLY) reported a Q1 FY24 revenue decline of 7.5% YoY to $451.01 million, beating the consensus of $360.90 million. Adjusted EPS was $0.27, down from $0.46 in 1Q23, beating the consensus of $(0.06). The company reaffirmed its FY24 outlook, expecting adjusted revenue of $1.580 billion-$1.630 billion. WLY shares are trading higher by 5.69% at $36.99.
September 07, 2023 | 2:53 pm
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Wiley's Q1 FY24 results beat expectations, leading to a surge in its stock price.
Despite a YoY decline in revenue and EPS, Wiley's Q1 FY24 results exceeded market expectations, which likely boosted investor confidence and led to a surge in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100