New York—The New York Times Co. reported Wednesday that third-quarter net income totaled $48.3 million, compared with $50.1 million in the year-earlier period.
EBITDA (earnings before interest, taxes, depreciation and amortization) decreased 4.5% to $125.2 million, from $131.1 million in last year’s third quarter, mainly due to higher expenses. Total revenue increased 1.9% to $773.8 million, from $759.3 million. Advertising revenue grew 3.7% compared with the same period last year.
"In order to spur greater revenue gains, we are continuing with our plans to increase the number and color capacity of the Times’ national print sites, redesign key editorial sections and improve its content, as well as grow the IHT [International Herald Tribune] and NYTimes.com," said Janet Robinson, exec VP-COO.