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.