McGraw Hill Financial Inc. (MHFI) on Tuesday reported profit that rose by 15 percent in its second quarter, and topped analysts' expectations.
The New York-based company said profit increased to $292 million, or $1.06 per share, from $254 million, or 91 cents per share, in the same quarter a year ago. The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of 98 cents.
Continue Reading Below
The owner of the ratings agency Standard & Poor's said revenue climbed 7.7 percent to $1.35 billion from $1.25 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $1.29 billion, according to Zacks.
McGraw Hill shares have climbed $3.80, or 4.9 percent, to $82 since the beginning of the year, while the Standard & Poor's 500 index has risen 7.1 percent. The stock has risen $22.21, or 37 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full MHFI report: http://www.zacks.com/ap/MHFI
Keywords:McGraw Hill,Earnings Report