McGraw-Hill reports higher revenue, profits

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New York—McGraw-Hill Cos. Thursday reported diluted earnings per share of $0.68 for the second quarter, up 11.9% from the year-earlier period. Net income for the period increased 10.5%, to $211.1 million. Revenue grew by 7.2% in the second quarter, to $1.6 billion. “In the first quarter, we said a promising year was off to a good start and our second quarter results bear that out,” said Harold McGraw III, chairman and president-CEO. “We have achieved the best first-half revenue growth since 2007, driven by our new segment, McGraw-Hill Financial, Standard & Poor's and Information & Media's Business-to-Business Group, which all produced double-digit revenue increases in the second quarter. That performance offset a modest decline at McGraw-Hill Education, which was affected by delays in ordering and challenging comparisons.”
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