NY Times (NYT) Q2 Revenues Increase, Digital Subscribers Rise
Zacks Investment Research | Aug 06, 2019 11:15PM ET
The New York Times Company (NYSE:NYT) came out with second-quarter 2019 results, wherein the top line continued to increase year over year, while earnings remained flat with the year-ago period. The company registered higher digital-only subscriptions. Digital advertising also improved during the quarter under review.
However, management informed that the second half of 2019 is likely to be challenging for digital advertising as a result of comparisons against sturdy performance in the prior-year period.
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The company delivered adjusted earnings from continuing operations of 17 cents a share. The newspaper publisher's total revenue of $436.3 million rose 5.2% year over year.
Subscription revenue grew 3.8% to $270.5 million principally due to increase in the number of subscriptions to the company’s digital-only products. Revenue from digital-only subscriptions products jumped 14.1% to $112.6 million. Management now projects total subscription revenue in the third quarter to increase in the low to mid-single digits, while digital-only subscription revenue is likely to rise in the mid-teens.
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