* Net income $1.06/shr vs. est 99 cents/shr
* Revenue rises 7.7 pct to $1.35 bln
* Raises full-year adjusted earnings forecast
July 28 McGraw Hill Financial Inc
reported a better-than-expected quarterly profit, driven by
growth in its Standard & Poor's ratings unit due to a resurgent
The company also raised its full-year adjusted earnings
forecast to $3.80-$3.90 per share from $3.75-$3.85 per share.
Revenue from the S&P business rose 11 percent to $664
million in the quarter, accounting for nearly half of McGraw
Hill's total revenue.
Net income attributable to common shareholders from
continuing operations rose 17 percent, to $292 million, or $1.06
per share, in the second quarter ended June 30.
Analysts on average had expected the company to earn 99
cents per share, according to Thomson Reuters I/B/E/S.
Total revenue rose 7.7 percent to $1.35 billion.
Global debt issuance rose 12 percent to $1.58 trillion in
the quarter, according to Thomson Reuters data.
S&P rival Moody's Corp also reported a
higher-than-expected quarterly profit last week, as revenue rose
in its bond ratings business. Moody's raised its full-year
revenue growth forecast.
McGraw Hill shares, which have risen 11 percent since the
company last reported results in April, closed at $82 on the New
York Stock Exchange on Monday.
Thomson Reuters Corp competes with McGraw Hill in
providing information related to the financial and commodities
(Reporting by Amrutha Gayathri in Bangalore; Editing by Simon