New York Times Co. reports increased revenue in second quarter

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New York—The New York Times Co. announced Thursday that its total revenue increased 1.2% to $589.6 million in the second quarter compared with the same period in 2009. The company's digital advertising revenue jumped 21.2%, while print advertising revenue continued their decline, falling 6.1% in the quarter. Circulation revenue increased 3.2% for the period, driven by price increases at The New York Times and Boston Globe.

The company said its second-quarter operating profit, excluding depreciation, amortization, severance and a special item in the second quarter of 2009, increased 39.4% to $92.6 million. The company's operating costs declined 3.7% in the same period, in part due to lower newsprint prices.

However, the company expects newsprint prices to rise in the second half of the year, which may add about $25 million in operating expenses for the rest of this year.

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