McGraw-Hill Beats Expectations as Profit, Earnings Increase

McGraw-Hill (MHP) reported its fourth quarter earnings Tuesday morning, and the results handily beat Wall Street expectations. Profits rose 45% to $167.3 million, or 53 cents a share, compared to $115.92 million or 37 cents per share in the same quarter last year. That exceeded analyst predictions of 40 cents a share. Earnings included a pre-tax gain of $10.5 million, or 2 cents per share from the company's sale of BusinessWeek to Bloomberg in December.