UPDATE: McGraw Hill Posts Upbeat Q4 Earnings, Lifts Dividend

McGraw Hill Financial Inc. (NYSE: MHFI) reported better-than-expected adjusted earnings from continuing operations in the fourth quarter.The New York-based company posted a quarterly net loss of $846 million, or $3.11 per share, versus a year-ago profit of $171 million, or $0.62 per share. Excluding items, the company earned $0.95 per share. Its revenue climbed to $1.29 billion from $1.21 billion. However, analysts were expecting earnings of $0.90 per share on revenue of $1.281 billion. Revenue for Standard & Poor's Ratings Services climbed 8% to $618 million in the quarter, while S&P Capital IQ revenue rose 5% to $318 million. Revenue for S&P Dow Jones Indices gained 8% to $140 million in the fourth quarter, while Commodities & Commercial Markets revenue surged 8% to $236 million.McGraw Hill lifted its quarterly dividend to $0.33 per share from $0.30 per share. At the end of the fourth quarter, the company had cash and short-term investments of $2.5 billion, compared to $1.6 billion at the end of 2013."2014 was an important year for the Company. We completed the portfolio rationalization of media businesses, resolved significant legal and regulatory matters, added talented new leaders to our senior management team, and delivered solid business performance," said Doug Peterson, President and Chief Executive Officer of McGraw Hill Financial. For 2015, McGraw Hill projects earnings of $4.35 to $4.45 per share on revenue growth in mid-single digits.McGraw Hill shares rose 0.36% to close at $98.16 yesterday.