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It’s the same old story for the New York Times: Digital subscriptions continue to rise, but not enough to offset falling revenues and earnings. Profit fell 21% to $55.7 million or $0.07 a share, versus the average analyst estimate of $0.085 in The New York Times Company’s second quarter. The company said, an overall 4.1% slump in overall ad revenues weighed on the results as did increased investments in “strategic initiatives”. A 32,000 jump in digital-only subscribers, fueled by new products like the NYT Now app, Times Premier and an Opinion app , brought the total number of paid digital subscribers to 831,000.

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