McGraw-Hill’s revenue up in 2006

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New York—Fueled by double-digit growth in its financial services unit, McGraw-Hill Cos. Thursday reported revenue for 2006 grew to $6.30 billion, from $6.00 billion in 2005.

Net income rose 4.5% to $882.0 million, from $844.0 million the previous year.

Revenue for the company’s financial services segment, which includes Standard & Poor’s Rating Services, increased $2.70 billion, from $2.40 billion in 2005. Revenue for McGraw’s information and media unit, which includes BusinessWeek and Aviation Week & Space Technology , rose 5.7% to $984.5 million, from $931.0 million.

“A strong finish to an outstanding year in financial services and effective cost controls in a softening education market were key to our performance in 2006,” said Harold McGraw III, chairman, president-CEO of McGraw-Hill Cos., in a statement.

—Matthew Schwartz

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