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McGraw-Hill reports higher income, revenue for second quarter

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New York—McGraw-Hill Cos. posted second-quarter revenue of $1.5 billion, a 0.6% increase over the same period last year. Net income for the quarter was $191.1 million, up 16.4% over the year-earlier period.

“Solid results in the U.S. college and university market, a strong performance by Standard & Poor’s indices and strength in the global energy information market helped offset some softening in credit market services in the second quarter,” Harold McGraw III, McGraw-Hill’s chairman and president-CEO, said in a statement.

The company’s b-to-b group, which includes Aviation Week, McGraw-Hill Construction and Platts, posted a decline in revenue of 7.8% to $198.9 million. However, factoring out the divestment of BusinessWeek, which was sold Dec. 1, the group’s revenue increased 5.6%.

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