NYT Announces 11 Percent Growth In Profit; Ends Year In The Black
The New York Times Company has announced 2009 fourth-quarter and full-year results; in Q4 2009 profit grew to $157.6 million, up 10.9 percent from Q4 2008. The company also reduced operating costs by 16 percent as revenue dropped 11.5 percent from Q3 2009.
Circulation revenue continued to rise at the Times company properties; it was up 2.4 percent even as ad revenue fell 11.5 percent. (Digital advertising, though, rose 11 percent in the quarter and the company expects to see similar growth in Q1 2010.)
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