McGraw-Hill's first-quarter earnings jump despite flat revenue

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New York--The McGraw-Hill Cos., publisher of Business Week, Monday posted a 43% jump in first-quarter earnings, as a strong performance in its financial services segment helped offset losses in the company's media and education markets. The company reported net income of $29.2 million, or 15 cents a share, compared with $20.4 million, or 10 cents a share, a year earlier. Overall revenue rose slightly to $846.7 million, from $846.4 million. Revenue from the financial services segment rose 10% to $381 million. The education segment saw revenue drop 8.5% to $282 million, and revenue generated from information and media services products fell 4.8% to $184 million.
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