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McGraw-Hill earnings up in second quarter

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New York--The McGraw-Hill Cos. Inc. posted higher second-quarter earnings, citing ongoing demand for financial data provided by its Standard & Poor's unit and stronger educational book sales. McGraw-Hill, which publishes BusinessWeek, earned $136.5 million, or 70 cents per share, in the second quarter, compared with $120 million, or 61 cents, a year earlier. On average, analysts polled by Thomson First Call were expecting earnings of 67 cents per share. Revenue in the second quarter rose 3.6% to $1.19 billion, from $1.15 billion a year earlier. Through June, ad pages for McGraw-Hill's flagship Business Week fell 25%.
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