Summary:

McGraw-Hill (NYSE: MHP), publisher of BusinessWeek, announced Q1 revenue of $1.21 billion a 6.1 percent decline from $1.29 billion in the ye…

McGraw-Hill (NYSE: MHP), publisher of BusinessWeek, announced Q1 revenue of $1.21 billion a 6.1 percent decline from $1.29 billion in the year-ago period. The bottom line was even worse, with net income falling 43.6 percent to $81.1 million. The decline can largely be attributed to weakness at S&P and the fall-off in the structured finance business. Revenue at the information and media unit, which includes BusinessWeek, was up 3.2 percent to $243.4 million. At BW, ad pages were down by 19.4 percent. The company expects revenue growth in the unit to increase by 6 to 8 percent, despite the weak economy, although it acknowledged that fresh digital investments would eat into profits.

Release

You’re subscribed! If you like, you can update your settings

Comments have been disabled for this post