The New York times only had positive things to say about their profits and revenue. This past Thursday the newspaper company released a report that showed a better-than-anticipated quarterly profit and revenue. There was a decline in print sales as the newspaper publisher signed up more digital subscribers.
In the New York Times fourth quarter, there was an increase in the digital advertising revenue. The revenue rose 8.5 percent, while print advertising took a fall and decreased 8.4 percent. This is representing the shift people are making into online news opposed to the original paper platform.
The New York Times had brought in more paid subscribers for its online news platform through a series of strategies. They are offering discounts as well as offering certain subscription packages that gives access to its well-known daily crossword puzzles and cooking recipes.
About a year ago, the companies advertising accounted for about 42 percent of its total revenue, and within the last quarter it showed that the 46 percent of the company’s total revenue is made up by advertising.
The New York Times made a statement in saying that 157,000 digital subscribers had been added within the quarter. This caused its total digital subscription number to rise to more than 2.5 million.
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There is something known as the “Trump bump” and this is the effect of President Donald Trump’s attacks toward the New York Times newspaper, and this has also added to the success of increased subscriptions.
The New York Times saw an increase in its total revenue. The company rose 10 percent to an astounding $484.1 million.
Higher costs and pension settlements have created a higher net loss for the company. It posted a net loss of $57.8 million, and this is compared to one year ago with profits of $37.6 million.
The company earned 39 cents per share and this is excluding one-time items.
According to analysts, an average estimate profit was released that claimed 29 cents per share on a revenue of $467.3 million.