
The New York Times Company reported strong third-quarter 2024 financial results, with revenue up 7% year-over-year (YoY) to $640.2 million. Subscription revenue increased by 14.2% YoY to $322.2 million, while operating profit rose by 20.7% YoY to $76.7 million. The company added 260,000 digital subscribers, bringing the total to 11.9 million, although this was fewer than expected due to tightened spending in an uncertain economy. Third-quarter total advertising revenues increased by 1.1% to $118.4 million, while digital ad revenue increased by 8.8% YoY to $81.6 million. Notably, The Athletic, acquired by the Times in 2022 for $550 million, turned a profit for the first time, posting an adjusted operating profit of $2.6 million versus a loss of $7.9 million in the same quarter a year earlier.








US presidential elections typically boost engagement for media companies, but the New York Times did not gain as many digital subscribers as expected in the third quarter. Readers appear to be cutting back on spending in an uncertain economy. Read more: https://t.co/CD7DyRq8Tk https://t.co/TzyP7I82uU
The New York Times added fewer digital subscribers than expected in the third quarter as readers cut back on spending in an uncertain economy, sending the publisher's shares down even as ad sales jumped https://t.co/TyNCwITzwf https://t.co/bxVRZQFYOz
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