McGraw-Hill grows revenue, profit in first quarter

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New York—McGraw-Hill Cos. reported its net income increased to $120.0 million in the first quarter, a 16.2% increase compared with the year-earlier period. The company's revenue for the first quarter increased to $1.3 billion, a boost of 7.7%.

McGraw-Hill's information and media group's revenue increased by 10.3% to $227.5 million in the first quarter. The group's operating profit grew by 34.5% to $37.4 million.

Information and media's business-to-business group, which included Aviation Week, J.D. Power and Associates, McGraw-Hill Construction and Platts, increased its revenue 10.3% to $206.9 million in the first quarter. Strength in demand for Platts' energy content offset softness in construction and aviation, according to the company.

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