McGraw-Hill shares slide as company provides full-year guidance

[Young girl home schooling]
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Shares of McGraw-Hill (NYSE:MH [https://seekingalpha.com/symbol/MH]) fell 3.1% at the open Thursday even as the company reported higher revenue and returned to profitability in its first quarter as a public company.

The education publisher posted net income of $502,000, reversing a $9.4 million loss a year earlier. Revenue rose to $535.7 million from $523 million, driven by a 14% gain in its higher education segment. Those gains were partially offset by a 1.4% decline in K-12 sales and a 12% drop in international revenue.

For the full year, McGraw-Hill projected revenue between $1.99 billion and $2.05 billion. The company went public last month at $17 a share.

MORE ON MCGRAW HILL, INC.

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* McGraw Hill Starts IPO Process On Middling Growth Rate [https://seekingalpha.com/article/4798602-mcgraw-hill-starts-ipo-process-on-middling-growth-rate]
* Edtech firm McGraw Hill prices IPO at $17 per share [https://seekingalpha.com/news/4471159-edtech-firm-mcgraw-hill-prices-ipo-at-17-per-share]
* Publishing giant McGraw Hill eyes U.S. IPO more than a decade after going private [https://seekingalpha.com/news/4468835-publishing-giant-mcgraw-hill-eyes-us-ipo-more-than-a-decade-after-going-private]
* Financial information for McGraw Hill, Inc. [https://seekingalpha.com/symbol/MH/income-statement]