McGraw Records Big Gains In TV, Education Units

McGraw-Hill's TV business follows that of other TV groups -- double-digit revenue gains from strongly improved advertising results.

The company's broadcasting climbed 23.5% to $23.6 million in its third quarter compared to the same period last year. McGraw-Hill's benefits stretched across the board -- political, national and local sales.

But McGraw-Hill's publications and print business struggled. Revenue for its information and media group -- which includes its broadcasting assets -- declined by 4.7% to $227.8 million. But taking out the sale of BusinessWeek, the group climbed 5.1%. The company says operating profit improved 55.1% to $45.8 million in the third quarter.

The company's biggest driver continued to be McGraw-Hill Education, which witnessed a 5.5% gain to $1.1 billion in revenue.

McGraw-Hill is pushing many digital services in its education unit. The company says a growing number of students and instructors are registering for McGraw-Hill Connect, as well as other online homework management, assessment and tutoring products. Through September, registrations for these products and services have grown to 1.9 million, a 26% increase over the same period last year.

Financial services, which includes Standard & Poor's Investment Services, rose 9.5% to $697.3 million. Revenue at S&P Credit Market Services is up by 27.6%, to $163.0 million -- much of this propelled by ratings needed around stronger refinancing activity.

Total revenue at the company was up 5.5% to $1.98 billion. Net income was up 13.9% to $389.6 million.

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