UPDATE: McGraw-Hill Q4 Net Income Surges 39%

McGraw-Hill Companies Inc (NYSE: MHP) reported a 39% rise in its fourth-quarter net income.

McGraw-Hill's quarterly net income surged to $214 million, or $0.73 per share, from $154 million, or $0.50 per share, in the year-earlier period. Its adjusted profit came in at $0.63 per share. McGraw-Hill's revenue climbed 2% to $1.52 billion. However, analysts were expecting earnings of $0.57 per share on revenue of $1.53 billion.

McGraw-Hill projects 2012 earnings of $3.25 to $3.35 per share, versus analysts' estimates of $3.22 per share.

MHP shares gained 3.65% to $48.00 in pre-market trading.