* Net income from cont ops $0.89/share vs. $0.54/share
* Indices revenue jumps 18%; Platts revenue up 14%
* Standard & Poor's revenue up 1 pct
(Adds details, CEO comment)
April 29 Standard & Poor's owner McGraw Hill
Financial Inc reported a 62 percent rise in quarterly
profit, driven mainly by its indices business and Platts, its
energy and metals information provider.
Net income from continuing operations attributable to common
shareholders rose to $248 million, or 89 cents per share, for
the first quarter ended March 31, from $153 million, or 54 cents
per share, a year earlier.
That was just above the average analyst forecast earnings of
88 cents per share, according to Thomson Reuters I/B/E/S.
"Platts and S&P Dow Jones Indices delivered outstanding
revenue growth...," Chief Executive Douglas Peterson said in a
"The robust performance of these businesses more than offset
the impact of tough year-over-year bond issuance comparisons at
Standard & Poor's Ratings Services," he said.
Total global debt issuance fell 4 percent to $1.6 trillion
during the first quarter of 2014 - the slowest start to a year
since 2008, according to Thomson Reuters data.
Rival Moody's Corp reported a 16-percent jump in its
net income last week as the strength in its analytics business
helped weather a slowdown in bond issuance.
Revenue at McGraw Hill's S&P Dow Jones Indices business rose
18 percent to $137 million, while revenue from Platts rose 14
percent to $148 million.
Standard & Poor's Ratings Services, which is the biggest
unit by revenue, posted a modest 1 percent revenue growth during
New York-based McGraw Hill's shares closed at $75.07 on
Monday on the New York Stock Exchange. They have fallen about 3
percent since the beginning of the year.
Thomson Reuters competes with McGraw Hill Financial in
providing innformation related to financial and commodties
(Reporting by Anil D'Silva in Bangalore; Editing by Maju Samuel
and Rodney Joyce)