the republic logo

New York Times 2nd-quarter profit falls 54 percent, misses estimate

bug
Share/Save/Bookmark

NEW YORK — The New York Times Co. on Tuesday reported earnings that declined by 54 percent in its second quarter, and missed analysts' expectations.

The New York-based company said net income declined to $9.2 million, or 6 cents per share, from $20.1 million, or 13 cents per share, in the same quarter a year earlier.

Earnings, adjusted for non-recurring costs, came to 7 cents per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of 8 cents.

The newspaper publisher said revenue decreased less than 1 percent to $388.7 million from $391 million in the same quarter a year earlier, and topped Wall Street forecasts. Analysts expected $388.6 million, according to Zacks.

New York Times Co. shares have fallen $1.85, or 12 percent, to $14.02 since the beginning of the year. However, the stock has increased $2.19, or 19 percent, in the last 12 months.

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.