NYT Posts Decline In Revenue, Profit
The New York Times’ revenue fell 2.7 percent even as digital revenues rose sharply, the company reported today.
The company turned a profit of $62 million, a 23 percent drop from the third quarter of 2009 but a strong increase over last quarter’s $32 million in income.
“”We have remained vigilant in managing our expenses, and we were able to keep our third-quarter operating costs virtually flat with the third quarter last year despite higher compensation costs and newsprint prices, and investments in our digital offerings across the Company,” NYT Company president and chief executive officer Janet L.
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