NY TIMES posts quarterly loss as costs rise… Online subscriptions account for 60% of revenue

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The New York Times Company continued to post significant subscriber growth, adding 157,000 net digital-only subscriptions in the fourth quarter.

The company posted a net loss of $57.8 million, compared with a year-ago profit of $37.6 million, mostly due to higher costs and pension settlements.
Excluding one-time items, the company earned 39 cents per share. Analysts were expecting a profit of 29 cents per share on revenue of $467.3 million, according to Thomson Reuters I/B/E/S.

www.reuters.com/article/us-new-york-times-results/new-york-times-beats-as-digital-subscriptions-surge-shares-rise-idUSKBN1FS249

In a tough environment for journalism, The New York Times Company continued to post significant subscriber growth, propelling the company to a healthy 2017.

The company said on Thursday that it added 157,000 net digital-only subscriptions in the fourth quarter of the year, pushing overall subscription revenue to more than $1 billion for the year. Subscription revenue now accounts for 60 percent of the company’s total revenue.

Buoyed by the growth in digital subscriptions, total revenue for the year increased 8 percent, to $1.7 billion, and 10 percent in the fourth quarter, to $484 million.

The Times Company had more than 2.6 million digital-only subscriptions, which include news, cooking and crossword products, at the end of 2017. Digital-only subscription revenue increased 46 percent last year, to $340 million, and 51 percent in the quarter, to $96 million. Subscription revenue for the year increased 15 percent. For the quarter, it rose 19 percent, to $269 million.

www.nytimes.com/2018/02/08/business/new-york-times-company-earnings.html

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