Net income for the New York-based company fell to $140.6 million, or 43 cents per share, from $204.8 million, or 56 cents, a year earlier.
NEW YORK (Reuters) - McGraw-Hill Cos <MHP.N>, the book and magazine publisher and owner of Standard & Poor's, on Thursday said fourth-quarter profit fell 31 percent, as disruptions in global capital markets dampened demand for credit ratings.
Net income for the New York-based company fell to $140.6 million, or 43 cents per share, from $204.8 million, or 56 cents, a year earlier.
Analysts on average expected profit of 52 cents per share, according to Reuters Estimates.
Revenue from S&P's credit market services fell 14 percent to $524.9 million, as volumes of new U.S. mortgage-backed securities and collateralized debt obligations fell by about three-quarters.
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