New York Times missed expectations for quarterly revenue on Wednesday (Feb 7), hurt by a slowdown in advertising sales and fewer customers signing up for its bundles. The publisher reported revenue of US$676.2 million for the fourth quarter, compared with analysts’ estimates of US$679.24 million, according to LSEG data. Total advertising revenue fell 8.4 per cent to US$164.1 million in the fourth quarter, compared with estimates of US$177 million. Sign Up VIEW ALLFor the first quarter, the company expects digital advertising revenue to increase in the low-to-high single-digit percentage range. On an adjusted basis, New York Times earned 70 US cents per share, beating estimates of 58 US cents.

Source: International New York Times February 07, 2024 16:15 UTC