NYT Digital Posts Record Profit Margin

NEW YORK The New York Times Co. yesterday reported that revenue for its digital unit, which includes NYTimes.com and Boston.com, grew 31.1 percent in the first quarter to $25.7 million from $19.6 million in the year-earlier period.

Q1 operating profit for New York Times Digital more than doubled to a record $8.4 million from $3.2 million during the same quarter a year ago. This resulted in an operating profit margin of 32.6 percent, the highest ever achieved by the unit.

The gains were primarily attributed to higher ad revenue resulting from increased volume.

The results were released as a part of The New York Times Co.’s first-quarter earnings report. The company’s total Q1 revenue rose 2.3 percent to $801.9 million. Its overall first-quarter net income was $58.4 million, or 38 cents per diluted share, compared to $68.8 million, or 45 cents per diluted share, in the year-ago period.