The New York Times Company Reports 2017 Second-Quarter Results

The New York Times Company (NYSE:NYT) announced today second-quarter 2017 diluted earnings per share from continuing operations of $.09 compared with $.00 in the same period of 2016. Adjusted diluted earnings per share from continuing operations (defined below) was $.18 in the second quarter of 2017 compared with $.11 in the second quarter of 2016.

Operating profit was $27.7 million in the second quarter of 2017 compared with $9.1 million in the same period of 2016, largely due to two special items recorded in the second quarter of 2016. Adjusted operating profit (defined below) was $67.1 million in the second quarter of 2017 compared with $54.5 million in the second quarter of 2016, principally driven by very strong digital revenues, partially offset by higher costs.

Mark Thompson, president and chief executive officer, The New York Times Company, said, “We had another strong quarter in which we grew revenue and profitability and made significant changes within the organization to ensure that the acceleration of our digital business continues in the long term.

“During the quarter, we surpassed two million digital-only news subscriptions, doubling our digital subscriber base over a two-year period. The company added 93,000 net digital-only news subscriptions, a 69 percent increase in the number of subscription additions compared with the same quarter last year, and total advertising revenue grew for the first time since Q3 2014, driven by continued strength in digital advertising.

“We believe that more and more people are prepared to pay for high quality in-depth journalism that helps them make sense of the world.”
more detail at: http://investors.nytco.com/press/press-releases/press-release-details/2017/The-New-York-Times-Company-Reports-2017-Second-Quarter-Results/default.aspx

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