The New York Times Company Reports First-Quarter 2022 Results

The New York Times Company (NYSE: NYT) announced today first-quarter 2022 diluted earnings per share from continuing operations of $.03 compared with $.24 in the same period of 2021. Adjusted diluted earnings per share from continuing operations (defined below) was $.19 in the first quarter of 2022 compared with $.26 in the first quarter of 2021.

Operating profit decreased to $6.3 million in the first quarter of 2022 from $51.7 million in the same period of 2021 largely as a result of one-time costs related to the acquisition of The Athletic Media Company (“The Athletic”), which occurred in the first quarter of 2022, as well as a result of operating losses at The Athletic. Adjusted operating profit (defined below) decreased to $60.9 million from $68.1 million in the prior year, as a result of operating losses at The Athletic. Adjusted operating profit at The New York Times Group was largely unchanged at $67.7 million as digital subscription and advertising revenue growth was offset by higher costs.

Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, “We’re off to a strong start on the next phase of our strategy, which is to become the essential subscription for every English-speaking person seeking to understand and engage with the world. We believe we have a tremendous opportunity to win a larger share of a still-growing market. We’re confident that we can attract, retain and monetize subscribers and drive profitable growth as we progress towards our goal of 15 million subscribers by the end of 2027.

“Our coverage of the war in Ukraine has been continuous and comprehensive and our readers have responded in large numbers and with deep engagement. Our ability to lead on and engage our audience in the biggest, most consequential stories of our time underpins our confidence in our strategy. “While we experienced real momentum in news, it was not the only driver of strength in the quarter. Wordle brought an unprecedented tens of millions of new users to The Times, many of whom stayed to play other games which drove our best quarter ever for net subscriber additions to Games and we’re off to a great start on our work with The Athletic.
details at: https://s23.q4cdn.com/152113917/files/doc_news/2022/05/NYT-Press-Release-3.27.2022-Final-O2ACvs2.pdf

Related Posts

BMI Releases Industry Barometer Survey Results for January

The Book Manufacturers’ Institute (BMI) released the January results for its monthly survey on capacity and lead times for soft cover and hard cover books. This month showed both capacities and lead times continuing to decline. According to responses regarding hard cover books, the average manufacturer was running at 72% of their capacity, down from December’s 82%. The average lead time for completed hard cover books went down to 48 days from 50 days, continuing the trend. For soft cover books, capacity usage dropped to 75% compared to 82% last month. The average lead time dropped to 29 days from 33 days, continuing that trend as well.

Costco Wholesale Corporation Reports June Sales Results

Costco Wholesale Corporation reported net sales of $12.17 billion for the month of June, the five weeks ended July 2, 2017, an increase of seven percent from $11.33 billion during the similar period last year. For the forty-four weeks ended July 2, 2017, the Company reported net sales of $104.28 billion, an increase of six percent from $98.51 billion during the similar period last year. Click Read More below for additional detail.

U.S. Postal Service Reports Second Quarter Fiscal Year 2022 Results

The U.S. Postal Service today announced its financial results for the second quarter of its fiscal year 2022 (Jan. 1, 2022 - March 31, 2022), reporting an adjusted loss of approximately $1.7 billion for the quarter, essentially flat compared to the same quarter last year. Adjusted loss excludes non-cash workers' compensation adjustments for the impacts of actuarial revaluation and discount rate changes, which are outside of management's control. On a U.S. generally accepted accounting principles ("GAAP") basis, the Postal Service had a net loss of $639 million for the quarter, compared to a net loss of $82 million for the same quarter last year. The Postal Service's operating revenue was approximately $19.8 billion for the quarter, an increase of $896 million, or 4.7 percent, on volume growth of 886 million pieces, or 2.9 percent, compared to the same quarter last year.
Back To Top
×Close search
Search