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(JOEL BOH/JOEL BOH/REUTERS)
(JOEL BOH/JOEL BOH/REUTERS)

New York Times sees revenue growth Add to ...

The New York Times Co. posted its first quarterly revenue growth since 2007 on Thursday, with a jump in online advertising revenue offsetting further declines in print.

It's a significant milestone because the publisher of The New York Times, The Boston Globe, the International Herald Tribune and 15 other daily newspapers pays most of its bills by selling ads.

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The company's profit fell 18 per cent from a year ago, when it booked a big one-time tax gain.

It earned $32-million, or 21 cents per share, in the latest quarter. That compares with $39.1-million, or 27 cents a year ago.

Revenue climbed 1.2 per cent to $590-million, from $583-million.

Advertising revenue was flat. A 21 per cent jump in digital ad sales offset a 6 per cent decline in print.

Meanwhile, the Times Co. continues to get more cash directly from readers, reporting a 3.2 per cent increase in circulation revenue. It has raised subscription and newsstand prices for both the Times and the Globe.

Operating expenses fell 4.3 per cent.

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