McGraw-Hill Beats Estimates
Zacks.com submits:
The McGraw-Hill Companies Inc. (MHP), a publisher and provider of financial information and media services, posted higher-than-expected fourth-quarter 2010 results on the heels of robust performance across Standard & Poor’s (S&P’s) services and global energy information products. The quarter’s results were partially offset by softness witnessed in the education markets. The quarterly earnings of 55 cents a share beat the Zacks Consensus Estimate of 51 cents, and rose 7.8% from the prior-year quarter. On a reported basis, including one-time items, earnings came in at 50 cents a share, down 5.7% from the year-ago quarter. The Zacks Consensus Estimate for the quarter remained stagnant prior to the earnings release with only one out 8 analysts following the stock revising the estimate upward in the last 30 days. McGraw-Hill now expects fiscal 2011 earnings between $2.79 and $2.89 per share. The current Zacks Consensus Estimate for fiscal 2011 is $2.88, which is at the high end of the guidance range. McGraw-Hill’s total revenue of $1,524.1 handily beat the Zacks Consensus Estimate of $1,498 million, and jumped 4.2% from the prior-year quarter aided by growth in the Financial Services segment, offset by a decline at its Education and Information and Media segment. Segment Details Financial Services segment revenue grew 13% to $778.5 million, driven by a revenue expansion of 11.4% to $527.1 million at S&P’s Credit Market Services, and a growth of 16.5% to $251.4 million at S&P’s Investment Services, which includes $12.7 million of revenue from the TheMarkets.com. S&P’s Investment Services benefitedComplete Story »
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