- New York Times Co.’s adjusted earnings per share (EPS) from continuing operations exceeded estimates at 80 cents, compared to the expected 75 cents.
- Total revenue slightly surpassed projections, coming in at $726.6 million, just above the estimated $726.4 million.
- Advertising revenue fell short, totaling $165.1 million against the anticipated $167.2 million.
- Digital advertising brought in $117.9 million, slightly under the estimate of $118.4 million.
- Print advertising revenue was $47.1 million, below the forecasted $48.9 million.
- Subscription revenue closely met expectations at $466.6 million, slightly higher than the projected $466.5 million.
- Other revenue exceeded forecasts by reaching $95.0 million against a $91.3 million estimate.
- The Athletic, a sports media company, also exceeded revenue expectations with $49.7 million versus the projected $47.6 million.
- Total subscriptions reached 11.43 million, shy of the 11.47 million estimate.
- Digital-only subscriptions accounted for 10.82 million of total subscribers.
- Print subscriptions were slightly above expectations at 610,000 compared to the estimated 606,515.
- The company’s adjusted operating profit stood at $170.5 million.
- For the first quarter, New York Times Co. forecasts a 7% to 10% increase in subscription revenues.
- Digital-only subscription revenue is expected to rise by 14% to 17% in the next quarter.
- Analyst ratings are comprised of 6 buy and 6 hold recommendations, with no sell ratings.
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New York Times Co A on Smartkarma
Analysts on Smartkarma, like Baptista Research, are closely following The New York Times Company’s performance, particularly highlighting its recent second-quarter results. According to Baptista Research‘s report titled “The New York Times Company (NYT): A Tale Of Subscription Growth & Executing A Bundle Strategy! – Major Drivers,” the company showed robust growth in various operational areas amidst a changing media landscape. The company’s strategic focus on expanding its subscriber base and diversifying revenue streams beyond traditional print media has been instrumental in its success. In the second quarter of 2024, The New York Times added around 300,000 net new digital subscribers, showcasing the strength of its core news offering as well as other verticals like Games, Sports, Cooking, and Shopping.
A look at New York Times Co A Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, the long-term outlook for New York Times Co A appears positive. With solid scores in growth and resilience, the company is positioned well for future expansion and to weather potential market challenges. Its momentum score also indicates a steady performance trend.
The New York Times Company operates media businesses, publishing daily newspapers and running Internet websites that distribute news and entertainment. With a balanced mix of scores across different factors, including growth and resilience, the company seems to be in a good position for long-term success in the media industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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