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alp227

(31,960 posts)
Thu Apr 25, 2013, 05:37 PM Apr 2013

Times Company Reports a Drop in Income

Source: NYT

The New York Times Company reported a decline in first-quarter income on Thursday as its executives continued to reposition the company into a global news outlet for a digital age.

Amid the ongoing changes in the industry, the company also announced plans to introduce lower-cost subscription models, part of a broader growth strategy detailed on Thursday.

The company is remaking itself in the face of the struggles in both print and online advertising. In the first quarter, net income was $3.1 million, or 2 cents a share, down from $42.1 million, or 28 cents a share, in the period a year earlier. Income from continuing operations declined to $3.1 million from $8.7 million a year earlier.

Total revenue from the quarter declined 2 percent to $465.9 million. Over all, the company’s advertising revenue declined 11.2 percent to $191.2 million from $215.5 million. Print advertising at the company’s newspapers, which include The New York Times, The Boston Globe and The International Herald Tribune, shrank 13.3 percent. Digital advertising revenue declined 4 percent.

Read more: http://www.nytimes.com/2013/04/26/business/media/times-company-reports-a-drop-in-income.html

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Times Company Reports a Drop in Income (Original Post) alp227 Apr 2013 OP
Half a billion to generate $3 million in profit BeyondGeography Apr 2013 #1

BeyondGeography

(39,278 posts)
1. Half a billion to generate $3 million in profit
Thu Apr 25, 2013, 05:41 PM
Apr 2013

I think I'll mention that next time my bosses tell me our margins suck.

What a shite quarter.

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