The New York Times Co. (NYT) Tops Q1 EPS by 1c, Revs Beat

The New York Times Co. (NYSE: NYT) reported Q1 EPS of $0.08, $0.01 better than the analyst estimate of $0.07. Revenue for the quarter came in at $398.8 million versus the consensus estimate of $381.96 million.

Mark Thompson, president and chief executive officer, The New York Times Company, said, “These results show the current strength and future potential of our digital strategy not just to reach a large audience, but also to deliver substantial revenue. We added an astonishing 308,000 net digital news subscriptions, making Q1 the single best quarter for subscriber growth in our history.

“Digital advertising revenue grew 19 percent year-over-year, a vindication of our decision to pivot towards mobile, branded content and a broader suite of marketing services, and to focus on innovation. Despite continued pressure on print advertising, we were able to grow overall revenues by 5 percent in the quarter.

“On costs, we are investing to support our growing digital businesses, most notably this quarter in brand marketing and consumer acquisition. We continue to keep a close eye on costs across the business and remain committed to aggressively managing profitability."

For earnings history and earnings-related data on The New York Times Co. (NYT) click here.

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