Publishing giant The McGraw-Hill Companies, Inc.( MHP ) reported a decline in profit, but beat analysts estimates Friday.
The New York, NY based company reported third quarter earnings of $314 million, or $1.10 a share, down 14% from last years earnings of $355.6 million, or $1.21 a share. Adjusted earnings for the quarter were $379 million or $1.33 a share. On average, analysts expected higher EPS of $1.30.
Revenue rose 2% to $1.95 billion, compared with $1.91 billion from last year. Analysts expected larger revenue of $1.97 billion.
The company raised its full year outlook to a range of $3.35 to $3.40 from $3.25 to $3.35. Analysts expect MHP to earn $3.40 a share for the year.
The McGraw-Hill shares were mostly flat during premarket trading Friday.
The McGraw-Hill Companies, Inc.( MHP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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