
The New York Times Company reported strong financial results for the first quarter, surpassing revenue and earnings estimates. The company's adjusted earnings per share (EPS) reached $0.31, beating the expected $0.20, while total revenue rose to $594 million, slightly above the forecast of $591.914 million. This growth was driven by a significant increase in digital subscriptions, with 210,000 new digital subscribers added, bringing the total to 10.5 million, an 8% increase year-over-year. The company also saw a 1.9% increase in digital-only average revenue per user (ARPU). However, advertising revenue declined by 2.4% year-over-year to $103.7 million. The quarter also saw a legal expenditure of $1 million due to the OpenAI lawsuit. Looking ahead, the company anticipates a 6-8% increase in total subscription revenue for the second quarter. Additionally, the company's operating profit surged by 73% to $48.3 million, Athletic revenue increased by 33% to $37 million, and overall profit jumped by 81%.
New York Times posts upbeat results on boost from digital subscriptions https://t.co/ChHgC9l2hN https://t.co/4iBWdh6kls
New York Times Adds 210,000 Digital Subs, Total Revenue Rises to $594 Million https://t.co/uAvVlbELJo
The NYT added 210,000 digital subscribers in Q1, for 10.5M subscribers in total, up 8% YoY, and ad revenue fell 2.4% YoY to $103.7M; the OpenAI lawsuit cost $1M (@benmullin / New York Times) https://t.co/AX2zowuroE https://t.co/iS0kDLNFH1


