The New York Times Earnings: Here’s Why Investors Like These Results
The New York Times Company (NYSE:NYT) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 5.33%.
The New York Times Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 20% to $0.04 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Decreased 6.7% to $465.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The New York Times Company reported adjusted EPS income of $0.04 per share. By that measure, the company met the mean analyst estimate of $0.04. It missed the average revenue estimate of $470.45 million.
Quoting Management: “Our first-quarter results reflect our continued strides in reshaping The New York Times Company,” said Mark Thompson, president and chief executive officer. “The increase in operating profit, excluding depreciation, amortization and severance, was driven by solid growth in circulation revenues coupled with tightly managed costs, which were lower despite ongoing investment in our high-quality journalism and digital operations.”
Key Stats (on next page)…