NYT Q1 EPS $0.13, digital subs 9.02M with 190k net adds, ad revenue down 8.5%

NEW YORK TIMES CO

2023-Q1 EPS reported $0.13 revenue$560,739,000

Diluted EPS $0.13 (prior $0.03); adjusted diluted EPS $0.19 (prior $0.21); operating profit $27.9M vs $6.3M.
Total revenue $560.7M (+4.3% YoY); digital-only subscription revenue $258.8M (+14.1%); digital advertising revenue $61.3M (-8.5%).
Digital-only subscribers grew to 9.02M, adding 190k net; bundle and multi-product subs crossed 3M; ARPU $9.04.
The Athletic segment adjusted operating loss $7.8M vs $6.8M due to full quarter inclusion vs ~2 months in prior year.
Management highlighted slowing cost growth for third straight quarter and confident on strategy for larger, more profitable company.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEW YORK TIMES CO reported financial results for the quarter ended March 31, 2023.

Period: the quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 10, 2023, The New York Times Company (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2023.

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NEW YORK TIMES CO filing history →

Source: SEC EDGAR

accession 0000071691-23-000014

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