For The New York Times, A Profit Shortfall
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.
“For The New York Times, A Profit Shortfall” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.