The New York Times Co. (NYT) Tops Q1 EPS by 10c

The New York Times Co. (NYSE: NYT) reported Q1 EPS of $0.20, $0.10 better than the analyst estimate of $0.10. Revenue for the quarter came in at $439.1 million versus the consensus estimate of $435.78 million.

Outlook
Total subscription revenues in the second quarter of 2019 are expected to increase in the low- to mid-single digits compared with the second quarter of 2018, with digital-only subscription revenue expected to increase in the mid-teens. As in previous years, in the second quarter of 2019 we expect seasonally slower growth in the number of paid digital-only subscriptions.

Total advertising revenues in the second quarter of 2019 are expected to be approximately flat compared with the second quarter of 2018, with digital advertising revenue expected to increase in the mid-teens.

Other revenues in the second quarter of 2019 are expected to increase approximately 35 percent compared with the second quarter of 2018.

Operating costs and adjusted operating costs are expected to increase approximately 8 percent to 10 percent in the second quarter of 2019 compared with the second quarter of 2018 as a result of continued investment in the drivers of digital subscription growth: marketing, product and journalism; as well as in commercial printing operations.

The Company expects the following on a pre-tax basis in 2019:

• Depreciation and amortization: $60 million to $65 million,
• Interest expense and other, net: $10 million to $12 million, and
• Capital expenditures: $50 million to $60 million.

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

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