New York Times Co. Reports Ad Revenue Down, Circ Revenue Up In Q3
Just days after announcing that it will eliminate 100 newsroom jobs at The New York Times before the end of the year, The New York Times Co. announced their third quarter earnings this morning — and it’s surprisingly not all bad news.
Exceeding expectations, the company reported a 30.2 percent increase in operating profit for the quarter and 21.6 percent decline in operating costs. The company said it had also worked to reduce its debt by $140 million through aggressive cost-cutting.
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