McGraw-Hill reports higher income, revenue for second quarter

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New York—McGraw-Hill Cos. reported Friday that its revenue for the second quarter was $1.5 billion, a 0.6% increase over the same period in 2009. The company’s 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 business-to-business group, which includes Aviation Week, McGraw-Hill Construction and Platts, posted a decline in revenue of 7.8% to $198.9 million for the second quarter. However, factoring out the divestment of BusinessWeek, which was sold on Dec. 1 last year, the group’s revenue increased 5.6%.

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