The New York Times Co. (NYSE: NYT) reported Q3 EPS of $0.23, $0.03 better than the analyst estimate of $0.20. Revenue for the quarter came in at $509.1 million versus the consensus estimate of $498.46 million.

Outlook:
Total subscription revenues in the fourth quarter of 2021 are expected to increase approximately 12 percent compared with the fourth quarter of 2020, with digital-only subscription revenue expected to increase approximately 25 percent.

Total advertising and digital advertising revenues in the fourth quarter of 2021 are expected to increase in the mid-teens compared with the fourth quarter of 2020 as the Company expects the rate of digital advertising growth to slow compared with the third quarter, partially as a result of more difficult comparisons in the fourth quarter.

Other revenues in the fourth quarter of 2021 are expected to increase approximately 15 percent compared with the fourth quarter of 2020.

Operating costs and adjusted operating costs in the fourth quarter of 2021 are expected to increase approximately 17 percent to 20 percent compared with the fourth quarter of 2020 as the Company continues to invest in the drivers of digital subscription growth and compare against the low spending last year as a result of actions taken during the earlier stages of the Covid-19 pandemic.

• The Company expects the following on a pre-tax basis in 2021:
• •Depreciation and amortization: approximately $60 million,
• •Interest income and other, net: approximately $34 million, and
• •Capital expenditures: approximately $50 million.
  

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