thank more optimism. the simpler with were fiscal and our much that we had for Brian, I you, creation and forward in value the activities a strong today. year, look been Wiley. renewed by confidence and At that our culture everyone, Thank momentum said us end I joining and seeing said you, reinvigorated we last of efficient that then businesses and
and performance our is this results. playing indicators, I'm in pleased to of financial all colleague scores engagement our report solid in that out
and pleased fiscal in full have continue. our to new realize are momentum said leadership progress I do team year. potential, to more with enter I we the work work we the But will and as our and June, that As
can't businesses customers serving done track. on dedication Our their terrific to for their hard our work excellence. getting and have job I a our thank Wiley colleagues with them around successful and a commitment the enough unwavering world
I since July, no October. Wiley's named be approach. after interim see capacity an change In to serving in was in my privileged I CEO
Directors publish to stakeholders organization. our and global positive and We will continued execution support. demand, drive we move to grateful meet thank relentless our I high-value AI confidence growth and content and to be decisively in as operational the colleagues rigor for want and of more I reception am on for to partnership. And the Wiley continue opportunities across their their Board improvements
with training our the notably our how position. will our how today strong Christina start through a Research. about I'll and our walk performance, GenAI opportunity quick I'll we're reinvestments, will reminder two the QX discuss then about against value-creation and a thinking for we're growth for segment us performance, seeing licensing words in in and activities financial review Jay we also say recovery questions. businesses, join few and objectives IP did about development. outlook
application in its is areas technology knowledge in medicine, creation critical economy and finance. business, and science, in As of engineering, new a the Wiley reminder, of the economics knowledge enabling global and
solutions Our and ever. as high-quality as relevant remain knowledge content
set and fiscal briefly that behind just 'XX we're to I focused is Now want everyone us, level on. remind what
Learning. high-value now verticals. and or in related publishing another The into segments: our solutions businesses organized two Excluding and segment, operating with complement we're sold and held-for-sale one Research, markets
leadership both in brands, advantage reputation. relationships, competitive author libraries, and content Our our include category
Research segment solutions a publishing Access, fee. that's publishing audience Solutions large corporations and corporations. funded for Research revenue a journal a for the the world's of and and for Open include one institutions licenses available publish read-only industry's has both includes author used The has models recurring most leading Wiley where and made Research, freely portfolios is Research XX% societies platform. widely peer-reviewed read content In base and Publishing subscriptions, article digital. hybrid and
is professionals. and publishing digital categories accelerating Learning courseware which academic professional strong institutional and for Learning, and assessments and an STEM business across particularly is is seeing for students shift publishing and higher to formats. ed
As Learning increasingly models. for valued GenAI noted, training is content
Let's talk about the quarter.
solid a in our us seeing execution. we're Research enough expected, to get As has delivering by growth can't strong great trends back driven track in Research, and demand team work emphasize I done and results. recovery very favorable on the
team expansion second in adjusted seasonally margin growth rights content project a At strong courseware time, EBITDA delivered light GenAI a this continues Learning and from benefited reflected growth drive in Learning to same the quarter. the quarter.
full our schedule. creation ahead executed essentially plan of We've value
quarter, Just Not many companies the we of the last week, during consecutive program. of million $XX In and we dividend remaining XXst raised actioned and final million third that. for size our year. like divestiture $XXX June, say cost the the something closed can savings our any
this again quarter. We also share repurchases increased
and recently elevation from Asia, I scores, which critical engagement our success. China our back to in ongoing got visited Wiley in satisfaction offices Japan. our just and marked saw trip I a colleague Finally, to where a are
As Sri with we've Lanka, and many in my reenergized the earlier motivated highly trip our made. teams Asia improvements I to found by India and
in direction. across the colleagues the are aligned Our globe same all rowing and
objectives on quarter. Let's our talk delivered this about how we key
a performance indicators. that and draw of exiting in 'XX. Research. playing confident enduring say remain as and First unprecedented both is year. in our better, the general year to We momentum the saw the the happy expected, leading I our we if given experienced not brands of I'm what out fiscal our recovery we in financial drive recovery growth to do, essential is recovery in fully and an nature
with of objective executed on value is We large a with quarter. content is all project to of in AI $XX it decisively rights a in opportunities. second company recognized quarter move the Our total this million tech near-term second $XX Nearly Learning. the million
are tech other corporates. large We seeing from and R&D-centric interest companies
profit through and drive continue Our our performance value to plan. improvement third objective creation is to
$XXX program. savings closed actioned million divestitures we've cost As noted, all of and the our
to I'll turn performance. quarter Note, in unless held-for-sale our our or me assets first sold be excluding otherwise my commentary, Let noted.
$XXX with by and project. start X% contribution $XX growth to revenue the million. million rights off we're from XX% Research to driven notably X% adjusted up good content the in in growth Learning, was discussed, a Performance As
revenue large AI contribution, the rose X%. Excluding
EBITDA in Adjusted XX% driven performance to $XX were million, cost rose and by rate offset savings revenue investments These technology. savings. run by and partially marketing
due quarter our income up EBITDA adjusted income adjusted margin EPS divestitures. XX.X%. for operating from XX.X%, Our XX% and higher up accrued the from was interest Adjusted to was
while due income to The loss EPS services foregone divestiture. related tax GAAP to primarily a by largely A was our GAAP decline few revenue was adjustment our words GAAP GAAP impacted revenue performance. sold about businesses, from university the
effective is adjusted tax rate Our impacted. not
Now our strong on recovery in to Research.
rise that our so in business Research world the haven't competitive indicators model us evolving market. 'XX, of essential catalog the increasing. make correlated leading confidence spend, researcher's the our published allows great addressable leading of with career more saw around demand our we the reminder, of to a because finally, ever Open giving to back very one heading And which Wiley changed. is is into form Getting is expands the Access total large journals, resilient. the moat. publishing a this and fiscal R&D world's That's a attributes high-impact significantly half therefore, researchers publish global is with publishers research first As is timely quarter. which
it and is our delivering the and markets output We've funnel numbers and by right increased They're team Open enhancing efforts They've capacity. review continuing increasing significantly happen. refer optimize investing growth. publishing brands They're our Research in top editorial investing journal portfolio. streamlining and the our transfer. and our making the in the Access on in journal right marketing while Our peer sales increased better-than-expected submissions, of to output by capabilities, focused
just started. getting we're And
Here trillion. Wiley Submissions XXXX metrics by around is to. research continue to term. trend R&D R&D Global number This capitalizing estimated QX. annually Growth grew to submissions. to the expected are is pay some XX%. to in on X% to grow is X% drives since spend $X.XX in long an up at over this X% attention
was advantage favorable growth, and is operate demand effectively QX more submissions X%. to dynamics. lagging a solid We a take from up continue which indicator flowing of output very
healthy Japan the like and continue strong we've and demand in markets noted, to growth China and normal return patterns EMEA seen India. U.S., high-growth As
we as expected. said out would it's lag year that ago, output by A submissions playing and months, X X to
models, multiyear continues institutional access Our combining institutional Open nicely grow to rates. in subscriptions Access, digit gold and grew and the double open at quarter,
nearly to are with general citation We top GCR the Wiley journal XX% reports. sources of analyze the in all position journals. citations as continue ranked impact most annual Index. the citation The of an peer-reviewed journals used journals publisher factor reports of the one metrics in our listed increased receiving on up widely to XX% of of make performance build our a
our per by fraud the and end-to-end fiscal turnaround platform about referring proceeding of article it transfer, on use we research and and beginning to stand development this excited and launch platform up article reduce to We're will of Research new what year very Finally, 'XX. enable offerings content AI. improve is through article plan, fully expect detect times cost the
year but for done, outlook. more the a start a to there's to Research always, As and good be confident
a to minutes discussing spend I'd few like AI.
impact. corporates it improve high-quality developers and for science, to applications. use Demand, remains therefore, language AI and models accuracy, reminder, foundational a and learning our large training As robust. is innovation content R&D-intensive safety building in and can
during was as This published for a we company in a recorded $XX general executed million realized of second demand all the quarter, of LLM training previously previously $XX the to consecutive million content Nearly higher is currently is than deal $XX large quarters. project content, with content. Research in tech our be year. for book the as in discussed, licensing remainder QX, it such million Learning
most extension for The emerging specific content or X are limited of opportunities. older. It's contracts rights cannibalize more not our subject They model from and not note is content us verticals. purposes. The are to with both development these do further for training backlist duration involve that nonexclusive, are LLM pursuing use to years Research and projects do projects incremental. application constrain limited important cases, notably core. disciplines in They demand in of These and
see We two stages. licensing content in the opportunity
is models. of foundational The in participating development first near-term discussed the as
information-centric their models in online corporates as is come medium arrangements over long these to bring licensing content second term, and AI our The into applications the environments. as and recurring
a how AI perspective. me from few a about words we're approaching licensing say Let
new our our journals. is readership revenue our to First, a of or not maximize to us. books and AI-specific really It's for of reach, content activity mission the and part work and core licensing day-to-day
developers. responsibility engage have We AI believe we a with to
very being accuracy on models when should Wiley's. AI ensuring content time, AI Therefore, learning scientific selective companies. the partner content how impact choosing same trained critical Our about like is to be with delivering authoritative outcomes. we're and optimal to and high-quality At and
We strict are pick partners to right a careful AI. set of the around to to adhere and principles
copyright rights must of holders protected. The be and other authors
They Wiley well is job arrangements. remains as and highly be continue compensation ever-changing authors, ensure opportunities we star north intellectual evolution most the this a Copyright we for receive company be Our execute All to partner holders the our associations. digital property, knowledge valued it. All as aim and and in on trusted say, in to fair to in, consistent with contractual landscape. their positioned societies of will AI. should assess to to
over call I'll pass the to Christina.
