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.
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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 ABC News. “The whole industry seems like it’s doing a little bit better.”

While overall revenue looked strong, beating many economists’ expectations, net income fell to $32 million. That’s a $7 million drop from the $39 million in net income the company reported a year ago.