McGraw-Hill’s first quarter earnings slide 6%

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New York—McGraw-Hill Cos., publisher of BusinessWeek, Tuesday reported first-quarter earnings declined 6%, as a charge and higher expenses offset revenue growth.

Earnings fell to $74.2 million from $78.7 million in the same period a year earlier. Revenue increased 11% to 1.14 billion, from $1.03 billion.

The latest results included charges of 4 cents a share to eliminate a stock option program, and another 4 cents a share for stock-based compensation expenses.

The Business-to-Business Group’s revenue—which includes J.D. Power and Associates, BusinessWeek, aerospace and defense, construction, and energy products and services—grew 31.4% to $197.4 million.

Ad pages in BusinessWeek’s global edition were up 2.9% in the first quarter, according to the Publishers Information Bureau, while ad revenue fell 3.2% during the same period.

—Matthew Schwartz

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