The New York Times Co. (NYSE: NYT) reported Q1 EPS of $0.26, $0.12 better than the analyst estimate of $0.14. Revenue for the quarter came in at $473 million versus the consensus estimate of $463.32 million.

Outlook:
Total subscription revenues in the second quarter of 2021 are expected to increase approximately 15 percent compared with the second quarter of 2020, with digital-only subscription revenue expected to increase approximately 30 percent.

Total advertising revenues in the second quarter of 2021 are expected to increase approximately 55 percent to 60 percent compared with the second quarter of 2020, with digital advertising revenue expected to increase approximately 70 percent to 75 percent mainly as a result of the impact of the comparison to weak revenues in the first quarter of 2020 caused by reduced advertiser spending during the start of the Covid-19 pandemic.

Other revenues in the second quarter of 2021 are expected to increase in the low single-digits compared with the second quarter of 2020.

Operating costs and adjusted operating costs in the second quarter of 2021 are expected to increase in the mid- to high-teens compared with the second quarter of 2020 as the Company continues to invest in the drivers of digital subscription growth.

The Company expects the following on a pre-tax basis in 2021:

• Depreciation and amortization: approximately $60 million,
• Interest income and other, net: $4 million to $6 million, and
• Capital expenditures: approximately $50 million.

For earnings history and earnings-related data on The New York Times Co. (NYT) click here.