Terry McGraw, chairman and CEO of McGraw-Hill, told CNBC’s “Squawk Box” that first quarter earnings growth was led by a strong performance in financial services and education.
“It’s hitting on all cylinders,” McGraw said Tuesday.
Earnings rose to 40 cents a share in the first quarter of 2007 compared with 20 cents for the same period last year. The consensus Wall Street estimate was 31 cents a share. The publishing and information company, which owns Standard & Poor’s and Business Week, earned $143.8 million on revenue of $1.3 billion.
First quarter 2007 earnings included a gain of three cents a share on the sale of a mutual fund data business in March. The first quarter of 2006 included a one-time charge of 4 cents a share for the elimination of a stock option program.