The New York Times Co. (NYT) Tops Q2 EPS by 4c

The New York Times Co. (NYSE: NYT) reported Q2 EPS of $0.18, $0.04 better than the analyst estimate of $0.14. Revenue for the quarter came in at $407.1 million versus the consensus estimate of $393.9 million.

Mark Thompson, president and chief executive officer, The New York Times Company, said, “We had another strong quarter in which we grew revenue and profitability and made significant changes within the organization to ensure that the acceleration of our digital business continues in the long term.

“During the quarter, we surpassed two million digital-only news subscriptions, doubling our digital subscriber base over a two-year period. The company added 93,000 net digital-only news subscriptions, a 69 percent increase in the number of subscription additions compared with the same quarter last year, and total advertising revenue grew for the first time since Q3 2014, driven by continued strength in digital advertising.

“We believe that more and more people are prepared to pay for high quality in-depth journalism that helps them make sense of the world.”

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

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