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McGraw-Hill earnings nearly double in first quarter

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New York—McGraw-Hill Cos. Wednesday posted first-quarter net income of $143.8 million, nearly double the $74.2 million profit for the same period in 2006. Revenue increased about 14% to $1.3 billion, from $1.14 billion.

Revenue for McGraw-Hill's B-to-B Group, which includes BusinessWeek and J.D. Power and Associates, rose 7.5% to $212.2 million, from $197 million in the year-earlier period.

Ad pages for BusinessWeek's global edition fell 3%, though the company said BusinessWeek.com had increases in both advertising and unique visitors compared with the first quarter of 2006.

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