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The New York Times Co. (NYT) Tops Q2 EPS by 5c

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August 3, 2022 7:06 AM EDT

The New York Times Co. (NYSE: NYT) reported Q2 EPS of $0.24, $0.05 better than the analyst estimate of $0.19. Revenue for the quarter came in at $555.7 million versus the consensus estimate of $552.65 million.

Outlook:
Below is the Company’s guidance for revenue and operating costs for the third quarter of 2022 compared with the third quarter of 2021. For The New York Times Group and the consolidated company, the comparison is to the consolidated results in the third quarter of 2021, before The Athletic acquisition. The guidance on The Athletic reflects our estimate of the impact The Athletic will have on third quarter consolidated results.
The New York Times GroupThe Athletic (contribution to consolidated results)The New York Times Company
Digital-only subscription revenuesincrease 10% - 14%10 - 12 percentage points (pp)increase 21% - 25%
Total subscription revenuesincrease 5% - 7%5 - 7 ppincrease 11% - 13%
Digital advertising revenuesdecrease 4% - 8%5 - 7 ppflat to decrease low-single digits
Total advertising revenuesdecrease low- to mid-single digits2 - 5 ppflat to decrease low-single digits
Other revenuedecrease approximately 5%n/adecrease approximately 5%
Operating costsn/an/aincrease 10% - 15%
Adjusted operating costsincrease mid-single digitsapproximately
7 - 9 pp		increase 9% - 13%

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


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