New York Times Co Posts Q1 Results Above Street Views

New York Times Company said pre-market Wednesday its Q1 adjusted diluted earnings from continuing operations were $0.11 per share, up slightly from $0.10 per share in the same period a year ago and better than expectations of analysts polled by Capital IQ of $0.06 per share. The company also reported revenue of $398.8 million, up from $379.5 million in the same period a year ago and beating CapIQ analysts’ estimates of $381.6 million.

In terms of outlook, the company said it expects Q2 total circulation revenues to increase at a rate similar to that in Q1, and that “growth in the number of paid digital-only subscriptions to our news products in the second quarter of 2017 is expected to be slower than the prior two quarters.” Q2 total advertising revenues are forecast to decrease in the low- to mid-single digits compared to the year-ago quarter. Q2 operating costs are forecast to increase in the mid-single digits versus a year earlier.

By Jon Flanagan