The New York Times Co. (NYT) Tops Q1 EPS by 1c, Revenues Miss

The New York Times Co. (NYSE: NYT) reported Q1 EPS of $0.19, $0.01 better than the analyst estimate of $0.18. Revenue for the quarter came in at $537.4 million versus the consensus estimate of $546.01 million.

Subscription revenue from digital-only products increased 26.3 percent, to $226.8 million. Print subscription revenues decreased 2.9 percent to $145.2 million, largely due to lower domestic home delivery revenue, which declined 2.2 percent, as well as lower single-copy revenue.

The Company ended the first quarter of 2022 with approximately 9,108,000 paid subscribers with approximately 10,390,000 paid subscriptions across its print and digital products. Of the 9,108,000 subscribers, 8,328,000 were paid digital-only subscribers with 9,620,000 paid digital-only subscriptions. As a result of the acquisition of The Athletic during the quarter, the Company added The Athletic’s approximately 1,101,000 subscribers and 1,233,000 subscriptions as of the date of acquisition.

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

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