The New York Times gained 210,000 digital subscribers last quarter. While overall ad revenue decreased 2.4%, to $103.7 million, digital advertising increased 2.9%, to $63 million. (NYT)
The Times’ stock price increased following the news, which included a 41% rise in adjusted profit that beat analyst expectations. (MarketWatch)
Total digital-only ARPU (average revenue per user) increased 1.9% year-over-year to $9.21, primarily as a result of subscribers graduating from promotional to higher prices and price increases. (NYT Co.)
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News Corp., which owns The Wall Street Journal and HarperCollins Publishers, also reported first-quarter results. Revenue fell 1% to $2.42 billion in the quarter, while net profit declined by 40% to $30 million. (WSJ)