A big decline in Wiley’s learning segment offset an increase in its research group, resulting in a 1% dip in revenue in the quarter ended October 31, 2025. Sales dipped to $421.7 million in the quarter, but cost controls led to a 14% increase in operating income, to $73 million.
Sales in the learning group fell 11%, to $143.2 million. The largest decline came in the professional division, where sales tumbled 16%, to $56.2 million. Sales in the academic division fell 8%, to $87 million. In its financial release, Wiley attributed the drop to a soft market, including a “sharp inventory drop off at an online retailer and a slowdown in consumer and corporate spending.” Declines in print sales offset an increase in digital sales, the company added.
In a conference call with analysts, president and CEO Matthew Kissner confirmed the online retailer in question is Amazon. “Across the industry, we have seen a significant change in inventory management from Amazon,” Kissner said. “We’ve seen this before and it is an abrupt challenge to manage through.” Later in the call, Kissner said he expects declines in the learning group to moderate in the second half of the year as Amazon’s buying patterns return to more normal levels. Even so, Kissner said, he expects revenue in the group to be down for the year.
Research revenue rose 6% in the quarter, to $279 million, over the comparable period last year. The increase included AI revenue of $6 million. Through the first six months of fiscal 2026, Wiley has generated $35 million in AI revenue in its research group and Kissner said the company continues to monetize its content through licensing agreements with AI companies for their large language models as well as agreements with corporations to use in different applications.
With fiscal 2026 now at the halfway point, Wiley now believes sales growth for the year will be in the low single digits, due to lower sales in the learning group. The company is still looking for its adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) to be in the 25.5% to 26.5% range compared to a 24% margin in fiscal 2025.
