McGraw-Hill reports strong second-quarter results

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New York--McGraw-Hill Cos. on Tuesday reported second-quarter income from continuing operations of $165.6 million, an increase of 16.0% from a year earlier.

Operating revenue for the second quarter increased 5.0% to $1.2 billion.

“Another record performance in Financial Services, growth in higher education around the globe, improvement in advertising and effective cost containment were hallmarks of our second-quarter performance,” Harold McGraw III, McGraw-Hill’s chairman-president-CEO, said in a statement.

Revenue for McGraw-Hill’s information and media services unit increased 2.5% to $194.1 million. Operating profit grew 1.6% to $24.8 million.

In the business-to-business group of this unit, which includes BusinessWeek and Aviation Week & Space Technology, revenue increased 2.3% to $166.1 million.

--Sean Callahan

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