NYT Revenue Jumps for First Time in 3 Years
The New York Times reported better than expected second quarter earnings today, beating analysts’ expectations. Total revenue jumped 1 percent to near $590 million, while advertising revenue stayed flat. It’s the first time in three years the NYT increased revenues.
The brightest spot in the relatively good report was that digital revenue jumped 21 percent over the same time last year. However, print advertising continued its decline, falling 6 percent.
“I think the New York Times turned to growth faster than the others,” said Noble Financial analyst Michael Kupinski to
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