What a difference three months make! Analytics, Information and Media lead with strong revenue growth. Rating Services declined.
“Overall, the business performed well despite challenging market conditions in global credit markets and historically low funding levels in the U.S. elementary-high school market. We are still on track for another year of growth in 2011, but we remain cautious over the balance of the year,” said Harold McGraw III, chairman, president, and chief executive officer of The McGraw-Hill Companies.
Standard & Poor’s: Revenue for the segment decreased by 1.8% to $409.9 million in the third quarter compared to the same period last year, as growth in international and non-transaction revenue largely offset a steep global decline in credit markets.
McGraw-Hill Financial: Revenue increased 18.4% to $348.5 million and operating profit grew by 31.2% to $112.6 million in the third quarter compared to the same period last year.
Information & Media: Based on continuing operations, revenue for this segment increased 11.9% to $228.5 million and operating profit grew by 17.1% to $51.3 million in the third quarter compared to the same period last year.
McGraw-Hill Education: Revenue for the segment declined 11.1% to $937.3 million and adjusted operating profit decreased 11.0% to $314.7 million in the third quarter compared to the same period last year. Foreign exchange rates increased revenue by $6.9 million and operating profit by $6.0 million.
Source: McGraw-Hill Press Release
