Good news for New York Times
Source: Agencies |
July 23, 2010, Friday
|
Print Edition
Print Edition
THE New York Times Co yesterday posted its first quarterly revenue growth since 2007, with a jump in online advertising revenue offsetting further declines in print.
It's a significant milestone because the publisher of The New York Times, The Boston Globe, the International Herald Tribune and 15 other daily newspapers pays most of its bills by selling ads.
The company's net income fell 18 percent from a year ago, when it booked a big one-time tax gain.
It earned US$32 million, or 21 cents per share, in the latest quarter. That compares with US$39.1 million, or 27 cents per share, a year ago.
Revenue climbed by 1.2 percent to US$590 million, from US$583 million.
Advertising revenue was flat. A 21 percent jump in digital ad sales offset a 6 percent decline in print.
Meanwhile, the Times Co is getting more cash from readers, with a 3.2 percent increase in circulation revenue.
It's a significant milestone because the publisher of The New York Times, The Boston Globe, the International Herald Tribune and 15 other daily newspapers pays most of its bills by selling ads.
The company's net income fell 18 percent from a year ago, when it booked a big one-time tax gain.
It earned US$32 million, or 21 cents per share, in the latest quarter. That compares with US$39.1 million, or 27 cents per share, a year ago.
Revenue climbed by 1.2 percent to US$590 million, from US$583 million.
Advertising revenue was flat. A 21 percent jump in digital ad sales offset a 6 percent decline in print.
Meanwhile, the Times Co is getting more cash from readers, with a 3.2 percent increase in circulation revenue.
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