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 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.