McGraw Hill 2nd-quarter profit increases 15 percent, tops estimate

MarketsAssociated Press

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.

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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.

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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

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Keywords:McGraw Hill,Earnings Report