BusinessWeek lags behind other McGraw-Hill ops
McGraw-Hill, the parent company of BusinessWeek magazine, reported bullish second-quarter earnings and upped its earnings estimates for the rest of the year.
But the stars in the company are in the publishing and data businesses, not in the segment that includes BusinessWeek. The information and media division reported revenue up only slightly and a decline in operating income.
A press release stated, “Revenue for the Business-to-Business Group increased 2.1% to $206.7 million. The Group includes J.D. Power and Associates, BusinessWeek, construction, energy products and services, and Aviation Week. Growth in information products and services helped offset declines in advertising at the Business-to-Business Group.”
In addition, there was this data on advertising, which provided a positive outlook for BusinessWeek.com: “Advertising pages in BusinessWeek’s global edition declined 11.7% in the second quarter, according to the Publishers Information Bureau. The shutdown of BusinessWeek’s international editions for Europe and Asia at the end of 2005 exacerbated the revenue decline. In the second quarter of 2005, the international editions produced revenue of $4.6 million. However, BusinessWeek did benefit from the elimination of the international editions. BusinessWeek.com continues to show solid growth and produced 14.1% of BusinessWeek’s total advertising revenue in the second quarter.”
See the full press release here.