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McGraw-Hill's quarterly income, revenue rise

Published on .

New York--McGraw-Hill Cos. announced Thursday that third-quarter income from continuing operations increased 5.7% from a year earlier to $290.3 million. Operating revenue for the third quarter totaled $1.6 billion, an increase of 4.0% over the same quarter last year. In McGraw-Hill's information and media services division, which includes BusinessWeek and trade publications such as Architectural Record, revenue decreased 3.5% to $176.1 million and operating profits declined 2.4% to $19.3 million. The company said aggressive cost cutting helped offset declines in advertising revenue.
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